Technip (TEC.PA) (ISIN:FR0000131708) (TKPPY) was awarded by Oil Projects Company – SCOP(1) a significant contract(2) for project management consultancy (PMC) services for the engineering, procurement and construction (EPC) phase of the Karbala refinery, Iraq. This award follows the front-end engineering design executed by Technip in 2010.
The scope of work will cover two phases:
- phase 1: issue of enquiries for the EPC contract, bids clarification, evaluation and contracts finalisation with the EPC contractors,
- phase 2: overall management of the EPC contract execution.
Technip’s operating center in Milton Keynes, United Kingdom will execute phase 1 of the project, which is scheduled to be completed in the second semester of 2013.
Riccardo Moizo, Technip’s Senior Vice President for PMC, stated: “We are delighted to have been awarded this project by SCOP and to participate in developing and enhancing Iraq’s refinery capabilities. This is a significant contract for Technip’s newly created PMC business unit and we believe it will open up opportunities in the near future.”
(1) A company of Iraq’s Ministry of Oil.
(2) For Technip, a “significant” onshore contract is ranging from €50 to €100 million.
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