Iraq is an emerging and exciting market for the oil and gas industry. With the Middle East being one of Petrofac’s core markets, it was logical to establish operations in the Basra region in 2010. Located close to Petrofac’s large operational centre in Sharjah, Iraq is geographically well placed for the business to execute almost any scope of work.
Petrofac is fully committed to investing in its long-term presence in Iraq through deep and established relationships throughout its local supply chain as well as working closely within the local communities in which it operates. The strategy is also to maximise as much expertise as possible working with the local talent pool. We are always making progress in this area with Iraqi nationals working in our Basra office and at site. We continue to recruit actively in the local market to support both current and anticipated projects.
In 2011, Shell Iraq Petroleum Development BV along with its partners awarded Petrofac a significant project in the Basra region.
- project location: Majnoon Oil Field Development in Southern Iraq (proven oil reserves of the Majnoon oil field: 12.8 billion barrels)
- project scope: engineering, procurement and construction management for early production facilities with a capacity of 100,000 barrels per day
- value of project: >US$240 million
Also in 2011, BP Iraq NV (BP) and its partners awarded Petrofac and its joint venture partner, China Petroleum Engineering & Construction Corporation (CPECC), an inspection, maintenance and repair contract worth US$90 million for the Rumaila oil field in Southern Iraq.
In March 2012, Gazprom NEFT BADRA BV and its partners awarded Petrofac a lump-sum engineering, procurement and construction contract in Wasit province.
- project location: Badra Field, Wasit province
- project scope: engineering, procurement, construction, pre-commissioning, commissioning and start-up work on the Badra development's central processing facility, which comprises three crude oil processing trains
- value of project: US$330 million
In August 2012, Petrofac was awarded a contract worth approximately US$100 million to provide offshore operations and maintenance services for the Iraq Crude Oil Expansion project.
Iraq is a market that offers significant opportunities and we look forward to delivering successful projects in line with our commitment to safety, quality, integrity and corporate social responsibility.
Marwan Chedid, Chief Executive, Engineering, Construction, Operations & Maintenance