Amec Foster Wheeler wins BP Iraq contract
- Studies to maintain and enhance production at the Rumaila oil field
- Three-year framework agreement
- One of the world's largest oil fields
Amec Foster Wheeler announces today the award of a three-year framework agreement by BP Iraq NV (BP) to complete conceptual studies and pre-front end engineering design (FEED) work to support BP plans to sustain and grown production at the Rumaila oil field in Iraq.
Rumaila, one of the world's largest oil fields and the largest producing field in Iraq, is situated in the southern region of Iraq and has been producing since 1954. Average daily production in 2014 was 1.34 million barrels per day (bpd), part of a trend that has seen daily production rise from around 950,000 bpd in 2010 when BP began work. Rumaila now delivers more than a third of Iraq’s oil.
Amec Foster Wheeler's scope of work is to carry out engineering studies for facilities and infrastructure that are crucial for the Rumaila field to sustain and increase production.
We undertook a number of studies on the Rumaila field back in 2010 and this latest framework agreement recognises our conceptual and pre-FEED expertise and continues our strong relationship with BP and our track record in Iraq. We are looking forward to supporting BP in realising its objectives for the Rumaila field.
Amec Foster Wheeler (www.amecfw.com) designs, delivers and maintains strategic and complex assets for its customers across the global energy and related sectors.
Employing around 40,000 people in more than 55 countries and with 2015 revenues of £5.5 billion, the company operates across the oil and gas industry – from production through to refining, processing and distribution of derivative products – and in the mining, clean energy, power generation, pharma, environment and infrastructure markets.
Amec Foster Wheeler offers full life-cycle services to offshore and onshore oil and gas projects (conventional and unconventional, upstream, midstream and downstream) for greenfield, brownfield and asset support projects, plus leading refining technology.
Amec Foster Wheeler shares are publicly traded on the London Stock Exchange and its American Depositary Shares are traded on the New York Stock Exchange. Both trade under the ticker AMFW.
Amec Foster Wheeler in Iraq. Amec Foster Wheeler has been involved in Iraq’s oil sector since the 1930s. Iraq is a key market for Amec Foster Wheeler. We have a long history in the country and strong customer relationships with Iraqi based customers spanning many decades.
This announcement contains statements which constitute “forward-looking statements”. Forward-looking statements include any statements related to the timing, results and success of contracts, and are generally identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “may,” “continue,” “should” and other similar expressions. Forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Amec Foster Wheeler, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Amec Foster Wheeler does not undertake to update any of the forward-looking statements after this date to conform such statements to actual results, to reflect the occurrence of anticipated results or otherwise.