Tag Archives | Petrofac

Audio: BBC Investigation into Iraq Oil Corruption

BBC's File on 4 has produced a 38-minute programme on the recent allegations of corruption in the Iraqi oil industry, following the leaking of emails from Unaoil. The Monaco-based company denies that it helped companies win contracts by corrupting politicians and government officials.  Jane Deith has been given access to the leaked papers and reveals […]

New Allegations of Massive Corruption in Iraq Oil Industy

By John Lee. An investigation by Fairfax Media -- publisher of The Age and The Sydney Morning Herald newspapers -- and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]

Petrofac will soon complete Badra Project

By John Lee. Petrofac announced its final results for the year ended 31 December 2015 on Wednesday. As part of its update, it said  it has completed "the second of three trains on the Badra project in Iraq and the third train is expected to be completed shortly". (Source: Petrofac)

Petrofac Wins Training Contract at Majnoon

Petrofac has been awarded a multi-million dollar technical training contract with Shell Iraq, achieving their fourth win with a major operator in the country. Effective October 2015, Petrofac Training Services (PTS) has joined Shell in the management and operation of Shell’s Majnoon training centre in the Majnoon oil field development in Southern Iraq for two […]

Petrofac Wins New Iraq Business

By John Lee. Petrofac has secured a second contract extension from South Oil Company (SOC) for support on its Iraq Crude Oil Expansion Project. The 12-month extension, worth around US$106 million, comes into effect in December and brings the total value of the contract to more than US$300 million since it was first awarded in […]

Petrofac Unaffected by Iraq Problems

By John Lee. Oil and gas service provided Petrofac has said that the security problems in Iraq have had "no significant impact" on its operations. In its Interim Management Statement, the company said: "Our operations in Iraq are south and east of Baghdad and represent less than 5% of the Group's expected revenues for 2014. […]

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Petrofac Wins $500m Rumaila Contract

By John Lee. Petrofac has also been awarded a major contract in Iraq to provide general construction management services to BP Iraq NV (BP) on the Rumaila field near Basra. Petrofac will provide management and personnel to manage brownfield modifications to assist BP – and its partners in the Rumaila Operations Organisation (ROO), China National […]

Iraqi Unrest "No Significant Impact " on Petrofac

By John Lee. Oil services company Petrofac has shrugged off worries that its performance will be hit by the unrest in Iraq. In a trading statement on Tuesday, the company said: "Our operations in Iraq are south and east of Baghdad and represent less than 5% of the Group's expected revenues for 2014. "While we […]

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Petrofac Results and Operational Update

By John Lee. In its final results announcement this morning, Petrofac gave the following update on its operations in Iraq: Maintenance services, Iraq In August 2013, we were awarded a second contract by Gazprom Neft Badra B.V. (Gazprom) on the Badra oil field, situated 160 kilometres southeast of Baghdad. Worth US$95 million over three years, […]

Petrofac Awarded 2nd Phase of Iraq Project

By John Lee. Oilfield service company Petrofac has announced a contract extension from South Oil Company (SOC) for its Iraq Crude Oil Expansion Project. The 12-month extension, worth around US$99 million includes the second phase of the project and will see the Company provide an additional scope of operations and maintenance services. The extension follows […]

Second Gazprom Award for Petrofac in Iraq

Petrofac has been awarded a second contract by Gazprom Neft Badra B.V. on the Badra Oil Field, situated 160km southeast of Baghdad City in the Republic of Iraq. Worth US$95 million over three years, the contract was awarded to Petrofac's Offshore Projects & Operations (OPO) business to provide maintenance engineering, maintenance execution and support services. […]