Penspen, a UK engineering group, has announced securing the engineering and procurement (EP) contract for a new power plant in southern Iraq.
Penspen secured the sub-contract deal from Siemens AG (SI) who originally signed the main contract to set up the station with the Iraqi oil ministry.
Siemens will provide the engineering and supply of the power island, while Penspen will provide the remaining engineering and supply of balance of plant equipment and materials.
Work will begin this month and is expected to go on until October 2013. Iraq is trying to boost its crude oil exports from its southern sea oil terminals which is located a few kilometers from Faw peninsula.
Two new single-point moorings, or SPMs, buoys have been already built this year, boosting Iraq’s crude oil export capacity in the south to nearly three million barrels a day from 1.6 million last year.