Iraq Awards Oil Export Project to Italy’s Saipem

Italian firm Saipem, a subsidiary of oil group Eni, has been awarded a $469 million contract to expand oil export facilities in the southern port city of Basra, according to a report from AFP.

The agency quotes government spokesman Ali al-Dabbagh as saying that the company has to complete the project within two years of the final contract being signed.

Around 80 percent of Iraq’s oil exports are transported through the country’s southern ports, and with Baghdad having awarded several contracts to foreign energy companies to expand production, it is also seeking to improve export infrastructure.

(Source: AFP)

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