Petrojet win $185m Iraq contract

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Petrojet win $185m Iraq contract

Petrojet has been awarded a $185m-contract to build the first gas-processing plant for Iraq’s Siba oilfield, operated by Kuwait Energy. The project aims to enhance the oil field’s production to reach 110m cubic feet per day.

This was announced in a statement received by Sherif Ismail, Eygptian minister of Petroleum and Mineral Resources, from the director of Petrojet, Mohammed Shemi, reports Egypt-based Youm7.

Shemi says that for the first time, Petrojet will handle all gas-processing plant’s related works (turnkey) in EPC system, which includes engineering, procurement, and construction.

He notes that the project aims to enhance the oil field’s production to reach 110m cubic feet per day, with a timeframe of 18 months and an investment of around $350m.

The project backs Petrojet’s plan to enter the Kuwaiti market in the future and comes as a continuation of the successful presence in the Iraqi market, which proved to be fruitful in the past two years, according to the statement.

Petrojet has won EGP3.6bn in six major contracts in Iraq during the past two years.

The company is wholly owned by Egyptian General Petroleum Corporation (EGPC).

Kuwait Energy chairman, Dr Manssour Aboukhamseen says the Iraqi Oil Ministry welcomes the presence of the Egyptian oil companies in the Iraqi market, which represents a three-way regional cooperation between Iraq, Kuwait and Egypt and promotes growth and long-term stability.

Source: www.ameinfo.com

More info: http://tinyurl.com/mfhlgmt

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.