Petrofac wins contract extension with Basra Oil on Iraq crude oil project
Located 60km offshore the Al Fao Peninsula in Southern Iraq, the facility handles around 50% of Iraq’s crude oil exports
London Stock Exchange-listed Petrofac revealed that its engineering and production services division (EPS) has secured a six-month contract extension with Basra Oil Company (BOC) for the Iraq Crude Oil Export Expansion Project (ICOEEP), which it started working on in November 2012.
In a statement, Petrofac said that the contract extension is “a recognition of its successful seven-and-a-half-year track record of safe and efficient delivery and ability to sustain and improve export levels” as the operations and maintenance (O&M) service provider.
Located 60km offshore the Al Fao Peninsula in Southern Iraq, the facility handles around 50% of Iraq’s crude oil exports; and is touted as one of the largest export terminals in the Gulf, Petrofac revealed.
The facility is home to a central metreing and manifold platform, and four single point moorings that help in exporting oil into the crude carrier tankers.
Petrofac is responsible for almost 300km of subsea pipelines, 1,800m of subsea and floating hose infrastructure, and a marine spread comprising 14 vessels.
Speaking on the contract win, managing director of EPS East at Petrofac, Mani Rajapathy, said: “During this current challenging period for operations we have continued to work well together, improving the daily export beyond two million barrels.”