Leighton Holdings wins $733m Iraq contract

01 Nov 2010

Source The Australian
Leighton Holdings has signed a $US733 million contract with Iraq's South Oil to build an oil export facility at the Fao terminal near Basra. The facility in the northern Gulf will comprise three single-point moorings and 120 kilometres of pipeline, Leighton said, and is the company's first major offshore project in the Middle East.

Single-point moorings are pipeline-connected buoys used as offshore loading facilities for oil tankers.
"With the opportunities in the Gulf and the Middle East and North Africa region, we are very confident it will be the start of a strong business line that will provide a steady revenue volume," said Leighton chief operating officer David Savage. The company has built similar facilities off the coasts of India, Sri Lanka, Malaysia, Brunei and Tanzania.

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