Weir awarded two-year contract in Iraq

24th Jan 2014 10:42

Engineering solutions giant Weir Group has signed a contract with LUKOIL to provide general maintenance services for the oil company's West Qurna-2 oilfield in southern Iraq. Under the two-year deal, which is worth a total of $98m, Weir will deliver mechanical, electrical, maintenance and pipeline services for the related production facilities.One of those production facilities, the Mishrif central processing plant, is set to initially produce 150,000 barrels of oil per day (bopd) when it becomes operating in the current half, increasing to 400,000 bopd by the end of the year. Weir Chief Executive, Keith Cochrane, said: "This substantial contract demonstrates the importance of Weir's long experience of working in Iraq and our reputation for delivering high quality engineering services in support of the country's developing oilfield infrastructure. "It also reflects our global capability, a key strength of our group which allows us to capture opportunities in high growth markets and be a partner of choice to our worldwide customers." The share price edged 0.09% higher to 2,141.95 by 10:57 Friday.NR