Petrofac Updates on Majnoon Oilfield Project

In its interim results for the first half of 2011, oil services company Petrofac gave the following update on its operations at Shell’s Majnoon oilfield:

“In March 2011, we announced the award of our first contract in Iraq, a US$240 million engineering, procurement and construction management project with Shell. The Majnoon field in southern Iraq is one of Iraq’s largest developments and we are delighted to be working with Shell to assist them with unlocking the field’s potential.

“We are providing engineering, procurement, fabrication and construction management services for the development of a new early production system comprising two trains each with capacity for 50,000 barrels of oil per day, along with upgrading of existing brownfield facilities.

“Work on the project began in mid-2010 and is expected to complete during the fourth quarter of 2012.”

(Source: Petrofac)

2 Responses to Petrofac Updates on Majnoon Oilfield Project

  1. Sam Salloum August 22, 2011 at 10:37 pm #

    Dear All,

    I would like to bring everyone attention to the most important part in preparing an oil field. EX: Majnoon, so much money is spent on engineering, base preparation, studies and analysis. However the most important factor in such projects is LOGISTICS IN IRAQ. The homework is not getting done properly, if the logistics is not efficient, unfortunately the cargo will not arrive on time for construction, drilling and based preparation. International Logistics company maybe are publicly trade, compliance awareness and efficient. But in Iraq logistics is a whole new and different ball game. IOC need to trust local companies for the required services, that is the way the only way. Ask or research the matter, you will see that the only major problem is Logistics into Iraq, and IOC spend so much money on Custom Clearance and port tarrif etc. Because they appoint International F.F. Companies. The bottom line, get the right companies to do the job and spend more time on hiring the right logistics employees.

    Sam.

  2. Steeart October 5, 2011 at 6:25 am #

    Your 100% right pal