Petrofac, the international oilfield service provider, has announced a contract extension from South Oil Company (SOC) for its Iraq Crude Oil Expansion Project. The 12-month extension, worth around USD 99M, includes the second phase of the project and will see the company provide an additional scope of operations and maintenance services.
The extension follows the original award made in 2012 for phase one of the project, which covered operations and maintenance services on the offshore facilities including an offshore platform, metering station, two single point moorings (SPMs), subsea pipelines and tanker operations, all based 60km offshore the Al Fao Peninsula in Southern Iraq. The extension, relating to phase two, covers two additional SPMs and a Central Metering and Maintenance Platform (CMMP).
The original contract was awarded in August 2012 for 12 months following a three-month long mobilisation period, and was worth approximately USD 100M. The extension comes into effect in November 2013 and there is a further one-year extension option available to SOC.
