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The UK-based oilfield services firm Petrofac has announced it has won a $75 million contract from South Oil Company (SOC) for its Iraq Crude Oil Export Expansion Project (ICOEEP).
The company secured the one-year deal, with a 1-year option, after a competitive tender and Petrofac, as the incumbent, will build on its four-year track record of successful and secure delivery on behalf of SOC.
The new deal will see Petrofac continuing to facilitate a significant proportion of Iraq's oil export which is generated from the facility sited 60 km offshore the Al Fao Peninsula in Southern Iraq.
The firm's principal role is to offer operations and maintenance services for the export facilities, comprising the central metering and maintenance platform and 4 Single Point Moorings, and the loading of the tankers for onward transportation.
Managing director, Engineering & Production Services East, at Petrofac, Mani Rajapathy, said: "Over the last four years weve achieved some significant milestones on this project, including the export of more than 1.5 billion barrels of oil. We have remained focused on adding value for our client through the deployment of innovative and differentiated solutions and on working safely in a complex operating environment. Earlier this year the teams celebrated achieving five million man-hours worked without a lost time incident which is testament to the safety culture that has been created on the project."
Hayan A. Abdulzahra, the director general, Southern Oil Company, said from the start of its ties with Petrofac, the firm has been aligned to its goals to significantly boost production from the ICOEEP facility.
He said, "This has been realised through the teams continued focus on operational excellence and safe and innovative project execution. I look forward to continuing to meet our safety and export milestones with Petrofac as our partner."
