SHARE
Image courtesy of Petrofac.

Oilfield services company Petrofac won two contracts Thursday worth a combined $620 million.

The company will provide general construction services at BP’s Rumaila field near Basra, Iraq.

Petrofac will provide management and personnel to manage brownfield modifications that will boost production at the field.

The company will also manage and coordinate multiple construction projects,including work performed by third party contractors at the field.

BP holds a 38 percent stake in Rumaila. China’s CNPC holds a 37 percent stake and Iraq’s state owned State Oil Marketing Organization holds a 25 percent stake.

The Iraqi government will take about 98 percent of the revenue from the 20 year technical service contract for Rumaila.

The contract expires in three years with an option for a two year extension and is potentially worth up to $500 million.

Petrofac also won an engineering and construction contract to support three Chevron operated assets in the UK Central North Sea worth up to $120 million.

The contract lasts for three years with two one year extensions.

Petrofac will provide services to the Captain, Alba and Erskine platforms.

The projects will create more than 70 onshore and offshore jobs.

Petrofac is based in Jersey.