Contracts awarded for Iraqi oil export terminal overhaul

14 Dec 2017   Iraq

London-listed oil and gas services company Petrofac said Wednesday it secured a $160 million contract to help overhaul a southern Iraqi oil port. The company said it secured the contract from Basra Oil Co., known previously as South Oil Co., for an expansion project from a terminal about 40 miles off the southern coast that’s responsible for nearly all of what Iraq exports. The contract involves infrastructure that facilitates crude oil tankers waiting to load oil, more than 180 miles of new pipelines and a mile of associated hose infrastructure. To date, the company said it’s facilitated the export of more than 2.2 billion barrels of oil for Iraq. Petrofrac secured a $70 million contract from the Iraqi company early […]

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