Petrofac Signs New Agreements in Iraq

Petrofac Signs New Agreements in Iraq

Iraq has awarded the UK-based company Petrofac a new contract and a contract extension of an existing agreement to provide engineering services to two international oil companies (IOCs) in the country, Hydrocarbons Technology informed.

Under the contract, Petrofac will provide construction management, commissioning, and start-up services, in addition to the engineering services already being performed.

The agreement extension is in line with additional contracts signed by Petrofac in April. The new deals brought as much as $70 million of investments to Iraq.

“As we move forward, our teams will remain focused on ensuring services are delivered in alignment with our clients’ expectations to enable them to maximize value from their oil and gas assets,” Petrofac’s Engineering and Production Services East Managing Director, Mani Rajapathy, said. The British firm has been operating in Iraq since 2010.

Meanwhile, the Oil Ministry has started direct negotiations with a Chinese consortium to develop its Nassiriya refinery and oil field, Iral Oil Report stated. PetroChina and the China National Offshore Oil Corp. (CNOOC) had proposed the construction of a $9-billion refinery, which was rejected by the ministry due to its high cost.


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