Leighton Offshore today announced the award of an additional Single Point Mooring (SPM) contract by Iraq’s South Oil Company (SOC).
The SPM contract worth US $79.85m is in addition to the $799m Phase 1 Iraq Crude Oil Export Expansion Project (ICOEEP) scope currently underway. The work will be undertaken in parallel with the current Phase 1 scope and is scheduled for completion by early 2012.
Leighton Offshore Chief Executive Officer, Peter Cox said “ This project adds to our track record as an integrated EPCIC contractor and as the premier SPM installer in the region, having installed more than a dozen SPM systems across Asia, Africa and the Middle East over the past decade. ”
The ICOEEP is aimed at expanding offshore loading facilities to enable export capability of 4.5 million barrels of oil per day.
Mr Cox added “ The Iraqi oil market is the fastest growing market in the region – it is expected that in under a decade, Iraq will treble its current oil production. Leighton Offshore will be a major contributor to achieving this ambitious goal and we look forward to continuing our strong working relationship with SOC to deliver on this goal.”
The project scope includes:
*1 additional SPM
*3.5 kilometres of 48″ pipeline
*Installation of Pig Launcher
*Conversion of spare SPM buoy to operational status
*Replacement of spare buoy
[mappress] Source: Leighton , October 14 , 2011