Petrofac secures $100 million in contracts in Iraq

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Petrofac secures $100 million in contracts in Iraq

Petrofac has secured a contract extension and a new award with a combined value of more than US$100 million for construction management, engineering, commissioning and start-up services for two International Oil Companies (IOCs) in Iraq.

The awards reflect the extensive track record Petrofac has been amassing in the country since 2010. Today’s announcement builds upon US$70 million of new awards in Iraq announced in April, giving the Group good visibility of future work in the country and securing around 250 jobs.

Mani Rajapathy, Managing Director, Engineering & Production Services East, said: “We’re delighted the IOCs in Iraq continue to choose Petrofac to support their operations. Iraq is an important market for us and, as evidenced by the number of awards we’ve secured there this year, we’ve consistently proven our delivery and execution capability on behalf of our clients.

“As we move forward, our teams will remain focused on ensuring services are delivered in alignment with our clients’ expectations to enable them to maximise value from their oil and gas assets.”

About Petrofac

Petrofac are a diverse company, operating out of seven operational centres in Sharjah, Abu Dhabi, Chennai, Mumbai, Aberdeen, Woking and Kuala Lumpur, plus a further 24 offices and a number of training facilities worldwide.

A few examples of their work:

Abu Dhabi
Completed the US$0.5 billion Bab Gas Compression facility and are in the closing stages of the US$0.5 billion SARB3 field development project. We are over 80% complete on the artificial island development at Upper Zakum.

Algeria
An important milestone was the completion and start-up of the first phase of the In Salah southern fields development project. As well as working towards the second phase of this project, we also have large ongoing projects at the Alrar gas field and Reggane basin.

Iraq
Successfully completed the Badra field development, and renewed our operations and maintenance contract for South Oil Company for the fourth time.

Kuwait
Work downstream with Kuwait National Petroleum Company’s Clean Fuels Project. Other projects include the US$4 billion Lower Fars heavy oil development programme.

Source: www.petrofac.com

Moving Abroad Checklist

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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).

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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?

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