PROJECTS: Chinese consortium awarded $594mln contract for Iraqi crude oil processing facility
A consortium of China CAMC Engineering Co (CAMCE) and CNOOC Petrochemical Engineering Co. (CNOOC Petrochemical) has been awarded a $594 million engineering, procurement and construction contract by Kuwait Energy Basra Co (Kuwait Energy) for a 100,000 barrels per day (bpd) crude oil processing facility in Iraq.
CAMCE said in a Chinese language stock exchange statement on Monday that the facility is for the Block 9 area, adding that contract duration is 33 months from the signing date [22 January 2022].
Block 9 covers, which is operated by Kuwait Energy, has a total area of 865 square kilometres, the CAMCE statement said.
Kuwait Energy, a subsidiary of Hong Kong-listed exploration and production company United Energy Group (UEG), has contract areas in Iraq’s Basra governorate under the Block 9 Exploration, Development and Production Service Contract (EDPSC) and the Siba Gas Development and Production Service Contract (GDPSC).
Source: Reuters (Writing by SA Kader; Editing by Anoop Menon)