Petrofac bags $75m contract with South Oil

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Petrofac bags $75m contract with South Oil

Petrofac has secured a contract worth US$75 million from South Oil Company (SOC) for its Iraq Crude Oil Export Expansion Project (ICOEEP). The one-year contract, with a one-year option, was awarded following a competitive tender and Petrofac, as the incumbent, plans to build on its four-year track record of safe and successful delivery on behalf of SOC.

Under the new agreement, Petrofac will continue to facilitate a substantial proportion of Iraq’s oil export which is generated from the facility located 60km offshore the Al Fao Peninsula in Southern Iraq. The company’s principal role is to provide operations and maintenance services for the export facilities, comprising the central metering and maintenance platform and four Single Point Moorings, and the loading of the tankers for onward transportation.

Mani Rajapathy, Managing Director, Engineering & Production Services East, said: “Over the last four years we’ve achieved some significant milestones on this project, including the export of more than 1.5 billion barrels of oil. We have remained focused on adding value for our client through the deployment of innovative and differentiated solutions and on working safely in a complex operating environment. Earlier this year the teams celebrated achieving five million man-hours worked without a lost time incident which is testament to the safety culture that has been created on the project.”

Hayan A. Abdulzahra, Director General, Southern Oil Company: “From the beginning of our relationship Petrofac has been aligned to our goals to significantly increase production from the ICOEEP facility. This has been realised through the team’s continued focus on operational excellence and safe and innovative project execution. I look forward to continuing to meet our safety and export milestones with Petrofac as our partner.”

About Petrofac

Petrofac operate out of seven operational centres in Sharjah, Abu Dhabi, Chennai, Mumbai, Aberdeen, Woking and Kuala Lumpur, plus a further 24 offices and 12 training facilities worldwide.

Source: www.petrofac.com

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.