US Firms Win 2 Iraqi Oil Contracts

By John Lee.

Iraq's Council of Ministers has approved two oil sector contract awards put forward by the Ministry of Oil.

Basra Oil Company (BOC) has been authorised to award contracts for integrated field management and engineering, procurement and construction (EPC) management to Halliburton, under terms of five years with an optional three-year extension, with payments to be made on the basis of actual work completed.

The Council also approved the award of a contract for the development of the Hamrin oil field to HKN Energy, with petroleum operations to commence in accordance with arrangements confirmed by the Ministry of Oil.

(Source: PMO)

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