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May 28, 2020updated 29 May 2020 12:43pm

Petrofac’s EPS division secures contract extension with Basra Oil

Oilfield services firm Petrofac’s Engineering & Production Services (EPS) division has secured a further six-month contract extension with Basra Oil Company for its Iraq Crude Oil Export Expansion Project (ICOEEP).

By Himaja Ganta

Oilfield services firm Petrofac’s Engineering & Production Services (EPS) division has secured a further six-month contract extension with Basra Oil Company for its Iraq Crude Oil Export Expansion Project (ICOEEP).

Since November 2012, Petrofac has been providing operations and maintenance (O&M) services on the ICOEEP offshore facilities.

The facility is located about 60km offshore the Al Fao Peninsula in Southern Iraq.

It is considered to be one of the largest export terminals in the Gulf, handling about 50% of crude oil exports in Iraq.

Petrofac EPS East managing director Mani Rajapathy said: “We are delighted to be awarded this further contract extension in Iraq by our longstanding client BOC.

“During this current challenging period for operations we have continued to work well together, improving the daily export beyond two million barrels. We thank BOC for their consistent support and look forward to maintaining the best-in-class operation of this important national asset.”

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Under the extended contract, Petrofac will also provide 300km of subsea pipelines, 1.8km of subsea and floating hose infrastructure, as well as a marine spread comprising 14 vessels.

In Iraq, Petrofac employs over 400 people. It is currently working on several projects for several NOC and IOC clients.

BOC Director General Ihsan Ismaael said: “Petrofac continues to be a true partner to BOC, ensuring uninterrupted and record exports. We appreciate their commitment, particularly during this recent period, and congratulate them for hitting new export highs.”

Two weeks ago, Petrofac signed deals to provide oil and gas giant BP with digitally-enhanced maintenance and metering services.

Last month, Petrofac told staff in the UAE of its decision to reduce its headcount in the country by 20%. Furthermore, the company plans to reduce its overhead and project support costs by at least $100m in the current year and by up to $200m next year.

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