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)