South Korea’s Daewoo Engineering has received final approval from the Iraqi cabinet for its first engineering, procurement and construction (EPC) contract in Iraq, a deal worth approximately $750m.

The contract covers the construction of gas processing facilities with a capacity of 400 million cubic feet a day (cf/d) at the Akkas field in the Anbar province of western Iraq.

A contract signing ceremony is expected to be held before the end of Ramadan, according to sources close to the project. The project is expected to take more than 46 months to complete.

Bids were submitted in April and Daewoo was notified of its status as the preferred bidder at the end of June by the field’s developer, Kogas Akkas, a joint venture of South Korea’s Kogas and state-owned North Oil Company, a subsidiary of the Iraq Oil Ministry.