Samsung scores $879m job in Iraq

Gazprom Neft project director of Badra project, Alexander Kolomatsky (left), shakes hands with Samsung Engineering senior executive vice president of marketing, Steve Fludder (right).

New deal: Gazprom Neft's Badra project director, Alexander Kolomatsky (left), shakes hands with Samsung Engineering senior executive vice president of marketing, Steve Fludder (right).

SAMSUNG ENGINEERING

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Danica Newnham

 06 February 2013 05:34 GMT

Russian oil giant Gazprom Neft has awarded a contract to South Korea’s Samsung Engineering to build a central processing facility at the Badra oilfield in south-eastern Iraq.

The contract covers the engineering, procurement and construction of a 200-million-cubic-feet-per-day gas separation plant and a utilities and offsites facility at the oilfield in the Wasit province.

The deal is worth $879 million and is to be paid on a lump sum turnkey basis, Samsung said on Wednesday. The work is expected to be completed within 35 months.

The central processing facility is expected to produce 170,000 barrels of oil per day by 2017, as part of the Iraqi Ministry of Oil’s oil development plan.

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