UK-listed global consulting and engineering firm Wood announced on Thursday that it has secured a series of decarbonisation contracts in Iraq valued at approximately $100 million.

The contracts focus on flare gas reduction and carbon efficiency initiatives across some of the country’s largest oil fields, the company said in a press statement.

The company will provide brownfield engineering, procurement, and construction (EPC) services, as well as modifications aimed at enhancing operational efficiency and minimising environmental impacts.

These projects are aligned with Iraq’s national goal of reducing gas flaring by 78 percent by the end of 2025.

The contracts are structured as reimbursable and will be executed by Wood’s teams based in Iraq and the UAE. To support the projects, Wood plans to recruit 60 new employees across both countries.

(Reporting by SA Kader; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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