facebook
twitter
rss
account
search
search
 

Iraq contract extension for oil services company Petrofac

Oct. 24, 2013 at 8:50 AM   |   Comments

LONDON, Oct. 24 (UPI) -- British energy services provider Petrofac announced it extended its contract with an Iraqi oil company for work on southern export projects.

Petrofac said it secured a 12-month contract extension from Iraq's South Oil Co. It estimated the contract is worth approximately $99 million.

"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," Mani Rajapathy, a senior vice president for the Middle East, said in a statement Wednesday. "The contract is a great example of project execution including our ability to deliver work successfully and safely in a logistically complex working environment."

The contract extension is for work on offshore production platforms. The work is based on the al-Foa Peninsula, about 35 miles off the southern coast of Iraq.

Petrofrac secured its original one-year contract from SOC in August 2012. It was worth approximately $100 million. The one-year extension comes into effect in November.

"When we awarded this contract in 2012 we stated that increasing the export of crude was a key driver for us and Petrofac has helped us to deliver on that," SOC Director General Dyeyaa Jaafar Hyjam said in a statement.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
The UN has released its list of leaders attending climate summit The UN has released its list of leaders attending climate summit
2
Hurricane Odile now a dangerous category 4 storm Hurricane Odile now a dangerous category 4 storm
3
Navy halts search for missing jet pilot after crash Navy halts search for missing jet pilot after crash
4
Mary Landrieu spent $33K of taxpayers' money on campaign travel Mary Landrieu spent $33K of taxpayers' money on campaign travel
5
Bernie Sanders says he may run for president in 2016 Bernie Sanders says he may run for president in 2016
Trending News
Video
x
Feedback