Weir Signs $98M Maintenance Contract with LUKOIL
The Weir Group PLC (“Weir”) is a global leader in engineering solutions headquartered in Scotland. The company recently announced its contract with LUKOIL Oil Company (“LUKOIL”) to provide general maintenance for the West Qurna-2 oilfield in Southern Iraq. The 2-year contract is worth an estimated US$98 million. Weir engineers will be responsible for mechanical, electrical, maintenance and pipeline services for the oilfield’s related production facilities, which includes the Mishrif Central Processing Plant.
“This substantial contract demonstrates the importance of Weir’s long experience of working in Iraq and our reputation for delivering high quality engineering services in support of the country’s developing oilfield infrastructure,” says Weir Chief Executive, Keith Cochrane. “It also reflects our global capability, a key strength of our Group which allows us to capture opportunities in high growth markets and be a partner of choice to our worldwide customers.”
Weir has devoted over US$8 million to establishing its service center in Basra, Iraq; it is the first in-country location to offer comprehensive maintenance services for all kinds of rotating equipment, valves and wellheads. The service center was also the first in the country to obtain API and ISO licenses.
West Qurna-2 is one of the largest undeveloped oilfields in the world. The Mishrif Central Processing Plant will initially produce 150,000 barrels of oil per day (bod) and increase its output to 400,000 bod by the end of 2014. Weir will begin work in accordance with the contract once Mishrif is operational, expected in the first half of 2014.