IRAQ has approved a US$998 million oilfield service contact with Samsung Engineering for the West Qurna-2 field development, Reuters reported, citing unidentified sources.
Russia’s Lukoil and Statoil sealed the 20-year deal with Iraq’s North Oil Company to develop the second phase of West Qurna in an auction in December 2009, pledging to ramp up production to a plateau target of 1.8 million bpd in six years.
South Korea’s Samsung Engineering was one of the five foreign contractors shortlisted for the nine-train development, including Italy’s Saipem, Canada’s SNC-Lavalin, India’s Punj Lloyd and Russia’s Globalstroy.
The West Qurna-2 field development includes the construction for the central processing facilities (CPF) for an initial 400,000 bpd phase.
The construction package includes an oil export pipeline, a tank farm at Tuba, a power distribution station and an associated gas processing plant, and also an oil gathering system, and a water supply system.
In August, Lukoil awarded a contract to Baker Hughes to drill 23 new wells in the field.
Oil News | Middle East
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