Wood secures EPC contract for West Qurna 1 oilfield in Iraq

Wood, a UK-based supplier of method services to the vigor sector, has secured a declaration from PetroChina for the West Qurna 1 oilfield successful confederate Iraq.

Under the contract, Wood volition undertake engineering, procurement and operation (EPC) works crossed the West Qurna 1 development.

This extends the company's decade-long enactment for 1 of the world’s largest crude developments and supports Iraq’s vigor goals, stated Wood.

Wood plans to present the declaration by utilising astir 200 of its employees based successful Iraq and the United Arab Emirates (UAE).

Wood Europe, Middle East and Africa operations president Ellis Renforth said: “The West Qurna 1 tract underpins the nation’s vigor information and contributes importantly to its economical resilience.

“This declaration grant deepens our decade-long concern astatine West Qurna 1 and reflects the continued spot placed successful Wood to present analyzable vigor solutions successful Iraq.

“We are arrogant to harvester our planetary expertise with a beardown section workforce to assistance enactment Iraq’s vigor ambitions.”

West Qurna 1 is located astir 50km north-west of Basra and is estimated to clasp much than 20 cardinal barrels (bbbl) of recoverable reserves.

The oilfield is considered a halfway portion of Iraq’s strategy to prolong and perchance summation crude output to planetary markets.

In 2024, ExxonMobil ceased operations astatine West Qurna 1, transferring its responsibilities to PetroChina, which present owns the biggest stock successful the oilfield.

West Qurna 1, successful summation to astir 20bbbl of proven crude deposits, has a accumulation complaint of astir 550,000 barrels per day.

ExxonMobil’s determination to exit the oilfield followed its earlier departure from the Pirman state artifact successful Kurdistan, northbound Iraq.

In September this year, Wood accepted a $291.5m (£216m) conditional takeover bid from Dubai-based Sidara, ending a year-long process that progressive respective offers.

"Wood secures EPC declaration for West Qurna 1 oilfield successful Iraq " was primitively created and published by Offshore Technology, a GlobalData owned brand.

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