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WorleyParsons Awarded Contract Extension at Rumaila
Posted on 27 October 2012. Tags: BP, PetroChina, Rumaila, SOMO, South Oil Company, State Oil Marketing Organization, WorleyParsons
By John Lee.
WorleyParsons has been awarded a $90m contract extension by BP Iraq NV, and its partners PetroChina and Iraq’s State Oil Marketing Organization (SOMO), to continue providing engineering, procurement and management services to boost production from the super-giant Rumaila oilfield in Southern Iraq.
In November 2009, BP and its partners entered into a 20 year Technical Service Contract (TSC) with the South Oil Company of Iraq. Under the terms of the TSC, the BP led consortium is required to nearly triple output from the field to 2.85 million barrels of oil per day over the next 6 years.
On completion of this work, Rumaila will become the world’s second largest producing oil field, contributing approximately 10% of Middle East production, 7% of OPEC production and 3% of global production.
The contract is being executed from WorleyParsons’ offices in London, UAE and Iraq.
Commenting, WorleyParsons’ CEO Andrew Wood stated:
“We are pleased to be able to continue our involvement in the reconstruction and development of Iraq’s oil and gas infrastructure. We understand the significance of the Rumaila development to the regeneration of the Iraqi economy, and we will work closely with the partners in the Rumaila development, BP, PetroChina and SOMO to create the maximum value over the life time of the field.“
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Posted on 27 October 2012. Tags: BP, PetroChina, Rumaila, SOMO, South Oil Company, State Oil Marketing Organization, WorleyParsons
By John Lee.
WorleyParsons has been awarded a $90m contract extension by BP Iraq NV, and its partners PetroChina and Iraq’s State Oil Marketing Organization (SOMO), to continue providing engineering, procurement and management services to boost production from the super-giant Rumaila oilfield in Southern Iraq.
In November 2009, BP and its partners entered into a 20 year Technical Service Contract (TSC) with the South Oil Company of Iraq. Under the terms of the TSC, the BP led consortium is required to nearly triple output from the field to 2.85 million barrels of oil per day over the next 6 years.
On completion of this work, Rumaila will become the world’s second largest producing oil field, contributing approximately 10% of Middle East production, 7% of OPEC production and 3% of global production.
The contract is being executed from WorleyParsons’ offices in London, UAE and Iraq.
Commenting, WorleyParsons’ CEO Andrew Wood stated:
“We are pleased to be able to continue our involvement in the reconstruction and development of Iraq’s oil and gas infrastructure. We understand the significance of the Rumaila development to the regeneration of the Iraqi economy, and we will work closely with the partners in the Rumaila development, BP, PetroChina and SOMO to create the maximum value over the life time of the field.“
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