Piling Tech wins $10m deal in Iraq

05 January 2012

It is the UAE firm’s first contract in Iraq oil sector

The UAE’s Piling Tech, has been awarded $10m deal to install pilling, foundations and wells at the West Qurna-phase 2 oil field in the south of Iraq.

The deal with Russia’s Lukoil, the developer of the field, marks the company’s first contract in the country’s oil sector after establishing its office in 2009. Piling Tech is a subsidiary of the UAE’s Tech Group.

The contract with Lukoil covers five well clusters as the first phase of the project. The second phase of well clusters is expected to be awarded by the end of 2012.

Lukoil tendered a number of deals in 2011 for the development of the 12.9 billion-barrel field. These tenders cover oil-gathering systems, processing facilities and a water supply system, along with an oil export pipeline, storage facilities, a power station and an associated gas processing plant (MEED 22:7:11).

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