Home
Saipem scores $472m Iraq deal
Iraq has awarded a $471.7 million contract for an oil export facility expansion and sub-sea pipeline to Italian group Saipem, according to reports.
Upstream staff 17 August 2011 11:59 GMT
According to a Reuters report Saipem will build a single point mooring buoy (SPMs) with an export capacity of 900,000 barrels per day.
The Italian company will also construct a 50-kilometre pipeline to transport crude from storage depots in Iraq's southern Faw peninsula to the new floating terminal.
Engineering, procurement and construction work is expected to be completed within 24 months. The order is the second phase in a wider expansion project announced last year.
Tender documents show that three other companies submitted bids for the contract, including Leighton Offshore, National Petroleum Construction Company (NPCC) and J Ray McDermott.
The whole expansion project, for which Foster Wheeler is handling the project management consultancy services, involves building two marine pipelines and one onshore pipeline and installing four single point moorings for loading oil tankers at a total cost of about $1.3 billion.
In the first stage, Australian construction contractor Leighton Holdings signed a $733 million contract with Iraq's South Oil Company to install moorings and pipelines in the Gulf, off Iraq's coast.
Iraq has awarded a series of massive oilfield development contracts to majors such as Shell and BP with the ambitious target of expanding its oil production capacity to 12 million barrels per day by 2017.
Published: 17 August 2011 11:59 GMT | Last updated: 17 August 2011 14:01 GMT
[You must be registered and logged in to see this link.]
Iraq has awarded a $471.7 million contract for an oil export facility expansion and sub-sea pipeline to Italian group Saipem, according to reports.
Upstream staff 17 August 2011 11:59 GMT
According to a Reuters report Saipem will build a single point mooring buoy (SPMs) with an export capacity of 900,000 barrels per day.
The Italian company will also construct a 50-kilometre pipeline to transport crude from storage depots in Iraq's southern Faw peninsula to the new floating terminal.
Engineering, procurement and construction work is expected to be completed within 24 months. The order is the second phase in a wider expansion project announced last year.
Tender documents show that three other companies submitted bids for the contract, including Leighton Offshore, National Petroleum Construction Company (NPCC) and J Ray McDermott.
The whole expansion project, for which Foster Wheeler is handling the project management consultancy services, involves building two marine pipelines and one onshore pipeline and installing four single point moorings for loading oil tankers at a total cost of about $1.3 billion.
In the first stage, Australian construction contractor Leighton Holdings signed a $733 million contract with Iraq's South Oil Company to install moorings and pipelines in the Gulf, off Iraq's coast.
Iraq has awarded a series of massive oilfield development contracts to majors such as Shell and BP with the ambitious target of expanding its oil production capacity to 12 million barrels per day by 2017.
Published: 17 August 2011 11:59 GMT | Last updated: 17 August 2011 14:01 GMT
[You must be registered and logged in to see this link.]
