Leighton Offshore today announced the award of an additional Single Point Mooring (SPM) contract by Iraq’s South Oil Company (SOC).
The SPM contract worth US $79.85m is in addition to the $799m Phase 1 Iraq Crude Oil Export Expansion Project (ICOEEP) scope currently underway. The work will be undertaken in parallel with the current Phase 1 scope and is scheduled for completion by early 2012.
Leighton Offshore Chief Executive Officer, Peter Cox said “This project adds to our track record as an integrated EPCIC contractor and as the premier SPM installer in the region, having installed more than a dozen SPM systems across Asia, Africa and the Middle East over the past decade.”
The ICOEEP is aimed at expanding offshore loading facilities to enable export capability of 4.5 million barrels of oil per day.
Mr Cox added “The Iraqi oil market is the fastest growing market in the region – it is expected that in under a decade, Iraq will treble its current oil production. Leighton Offshore will be a major contributor to achieving this ambitious goal and we look forward to continuing our strong working relationship with SOC to deliver on this goal.”
The project scope includes:
*1 additional SPM
*3.5 kilometres of 48″ pipeline
*Installation of Pig Launcher
*Conversion of spare SPM buoy to operational status
*Replacement of spare buoy
Source: Leighton , October 14 , 2011