Japan's Toyo Engineering wins SOC Contract

Japan's Toyo Engineering Corp said it has signed a General Engineering Service Agreement (GESA) to provide technical services to upstream projects to be undertaken by Iraq's state-run South Oil Company (SOC).

"This agreement covers all oil fields and related facilities that SOC is responsible for in the south of Iraq. TOYO will, on a long term basis and according to SOC’s request, provide comprehensive technical services in order to expedite the smooth, timely and economic implementation of SOC’s upstream projects," said the company in a statemennt.

According to a report from Reuters, Iraq sees production from its southern oilfields reaching 2.75 million barrels per day by the end of the year.

(Sources: Reuters, Toyo)

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