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(Arabian oil and gas) --
Lukoil, Russia’s largest private sector company, is on the cusp of awarding
several contracts to engineering and services firms as part of its multi-billion
dollar development of the supergiant West Qurna 2 oil concession.
Dow Jones Newswires, citing a senior Lukoil executive, reports that the
company is in the final stages of evaluating commercial and technical bids for
contracts competing to build the central processing facility, export pipelines,
tank farms, and a 126-megawatt power station.
Lukoil, which operates the field for partners Statoil and Iraq’s South
Oil Company, is locked into a 20-year technical services contract to develop the
field at fee-per-barrel remuneration of $1.15 before tax once a production
capacity threshold is reached.
According to other sources, five companies had been shortlisted: Saipem ,
SNC Lavalin, Punj Lloy , Globalstroy and South Korea’s Samsung Engineering. Two
other bidders, Petrofac and Technimont, are reported to have been dropped,
according to a Reuters report.
mrcplast.com
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