Restoration of output from fields in the south has far exceeded initial expectations following the extensive looting of essential production infrastructure in the days after the fall of the old regime. SOC, which has so far worked closely on the US-funded Reconstruction of Iraqi Oil (RIO) programme with prime contractor Kellogg Brown & Rootto rebuild its facilities, intends to take more control of certain projects (Oil & Gas, Special Report, 19:9:03, pages 54-57).
'We have the capability to carry out our own projects and next year, depending on the availability of funds, we plan to handle some of the smaller schemes. SCOP [State Company for Oil Projects]is also helping us with some tank farm projects and pipeline work, where it has special expertise,' says Al-Lueibi.
You might also like...
Rainmaking in the world economy
19 April 2024
Oman receives Madha industrial city tender prices
19 April 2024
Neom seeks to raise funds in $1.3bn sukuk sale
19 April 2024
Saudi firm advances Neutral Zone real estate plans
19 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.