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Petrofac Secures $369 million Majnoon Contract

EPC contract awarded by Basra Oil Company

Petrofac have been awarded a $369 million contract by Basra Oil Company for the building of a new crude oil processing facility, located in the giant Majnoon field in Southern Iraq.

The 34 month EPC contract includes the building of a new facility with the capacity to produce 200,000 barrels per day (bpd), with the new facility aiming to increase Majnoon production from current levels of 230,000 bpd to a projected 450,000 bpd.

In addition, Iraq has plans in the near future to invite service companies to tender for the drilling of 80 new oil wells in Majnoon, as part of the development plan for production increases at the field.

Petrofac has won previous EPC contracts at the oil field which was exited by Royal Dutch Shell in June, with operations handed over to the state run Basra Oil Company.

Source: Reuters


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