By John Lee.
Petrofac has announced that its Engineering & Production Services division ('EPS') has secured a one-year contract extension worth around US$80 million with a key client in Iraq.
While not mentioning the specific project, the company said:
"The award is recognition of Petrofac's successful eight-year track record of safe delivery as the incumbent operations and maintenance service provider.
"The facility which Petrofac will continue to manage, is one of the largest in the Gulf and handles around 55% of Iraq's crude oil exports."
Basra Oil Company (BOC) awarded Petrofac the operations and maintenance (O&M) contract for its Iraq Crude Oil Export Expansion Project (ICOEEP) at Fao [Faw] Terminal in 2012.
Steve Webber, SVP Operations EPS East, commented:
"This contract extension strengthens our long-term client partnership. Since the start of our involvement in 2012, we have supported this facility to export over 4 billion barrels of oil. Our teams in Iraq have an impeccable safety record and the use of innovative solutions have been at the heart of our delivery model. We look forward to supporting our client to maintain the best-in-class operation of this important national asset."
Petrofac has been providing services in Iraq since 2010, involved in a range of greenfield and brownfield projects in the country worth more than US$1 billion.