Sep 20 2012
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Dubai's DSI Says Share of Iraq Oil & Gas Contract Worth About $180 Mln
Thursday, Sep 20, 2012
DUBAI (Zawya Dow Jones)--Dubai-based Drake & Scull International (DSI.DFM), or DSI, said its share of a pipeline installation contract at the Zubair oil field in southeastern Iraq is worth about $180 million.
DSI said it was awarded the $358 million contract along with SICIM SpA, an Italian company that builds and installs oil pipelines.
The project scope is engineering, procurement and construction, or EPC, services for oil and water flow lines, water trunklines, oil transfer pipelines, and connections to wellheads and degassing stations, DSI said in a statement posted on the Dubai Financial Market website.
"The Iraqi construction market offers massive potential in areas such as Oil & Gas where there is a huge demand for EPC contractors," said DSI Chief Executive Khaldoun Tabari. "The country is also undertaking substantial developments to revolutionize its social infrastructure and as such we can expect demand for our type of services."
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