Royal Boskalis Westminster's associated company Smit Lamnalco has been awarded a significant annual contract by Petrofac to support Single Point Mooring operations 20 km off the Al Fao Peninsula for the Iraq Crude Oil Export Expansion Project (ICOEEP). The annual contract value is approximately USD 70 million (Boskalis share fifty per cent) and services will commence November 2012.
The Single Point Mooring (SPM) contract covers operations and maintenance of four SPM systems. The contract has an initial duration of one year with two annual extension options resulting in a potential total contract value of USD 200 million. The agreement involves the full scope of maritime support services for the crude oil export facilities.
