Oilfield services company Petrofac has secured a $99 million (£61million) extension to its Iraq Crude Oil Expansion Project from the country’s national oil company.
The contract covers operations and maintenance services 60km offshore the Al Fao Peninsula in Southern Iraq.
The original award in 2012 from South Oil Company (SOC) covered phase one operations for the project, including an offshore platform, metering station, two single point moorings, subsea pipelines and tanker operations.
The 12-month extension, worth about $99million, will cover the second phase of the project, comprising of two additional single point moorings and a central metering and maintenance platform.
“Over the past 12 months we’ve achieved some significant milestones on behalf of our customer SOC, including the export of 240 million barrels of oil and one million man-hours worked without a lost time incident,” said Mani Rajapathy, senior vice president at Petrofac Offshore Projects & Operations.
“The contract is a great example of project execution including our ability to deliver work successfully and safely in a logistically complex working environment. It also further enhances our position in Iraq, a key geography for our business, and continues a collaborative relationship with a valued customer, SOC.”
The extension will come into effect next month; following that, there will be a third one-year extension option available.
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