Oilfield services provider Petrofac has secured a further six-month contract extension with Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP).
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The company said on Thursday that the extension was won by its Engineering & Production Services (EPS) division.
The facility, which is one of the largest export terminals in the Gulf and handles around 50 per cent of Iraq’s crude oil exports, is located 60 kilometres offshore the Al Fao Peninsula in Southern Iraq.
It comprises a central metering and manifold platform and four single point moorings which facilitate oil export onto awaiting crude carrier tankers.
Petrofac is also responsible for almost 300 kilometres of subsea pipelines, 1,800 metres of subsea and floating hose infrastructure, and a marine spread comprising 14 vessels.
Mani Rajapathy, managing director of EPS East, said: “ During this current challenging period for operations, we have continued to work well together, improving the daily export beyond two million barrels ”.
Ihsan Ismaael , director general of BOC, added: “ Petrofac continues to be a true partner to BOC, ensuring uninterrupted and record exports. We appreciate their commitment, particularly during this recent period, and congratulate them for hitting new export highs ”.
Petrofac as been employed as the operations and maintenance service provider on the project for the last seven-and-a-half years.
The previous time this deal was extended was for two years back in December 2017. The contract extension was worth $160 million.