Petrofac wins contract for oilfield development in Iraq

Feb 24, 2012 12:00 AM

Petrofac, the international oil & gas service provider, has been awarded a $ 330 mm lump-sum engineering, procurement and construction (EPC) contract by Gazprom for the first phase of the Badra Oilfield Development Project in Iraq.
The
competitively tendered project will commence shortly and be completed in three 18-month phases, with final completion scheduled during the second half of 2015.

Under the terms of the contract, Petrofac will provide detailed design, engineering, procurement, construction, pre-commissioning, commissioning and start-up work on the Badra developments central processing facility, which comprises three crude oil processing trains.
The
first phase of the project is expected to come on stream in the second half of 2013.

Marwan
Chedid, chief executive of Petrofacs Engineering, Construction, Operations & Maintenance (ECOM) division, commented:We are delighted to be working with Gazprom on this important development which holds significant future potential for the progression of Iraqs oil & gas industry. This is Petrofacs third notable project award in Iraq and also marks our first lump sum EPC project in the country."
"Iraq
represents a sizeable market opportunity for Petrofac and our Basra office is continuing to expand as we develop our presence in the country. In the meantime, our teams are looking forward to delivering a successful outcome on the Badra project in line with our commitment to safety, quality, integrity and corporate social responsibility.

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