Wood, a UK-based provider of technical services to the energy sector, has recently announced that it has secured a significant contract from PetroChina for the West Qurna 1 oilfield in southern Iraq. This contract will see Wood undertaking engineering, procurement, and construction (EPC) works across the West Qurna 1 development, further cementing the company’s decade-long support for one of the world’s largest crude developments.
The West Qurna 1 field plays a crucial role in Iraq’s energy security and economic resilience, making this contract an essential part of Wood’s ongoing partnership with the nation. The company plans to deliver on this contract by leveraging the expertise of nearly 200 employees based in Iraq and the United Arab Emirates (UAE).
Ellis Renforth, President of Wood’s Europe, Middle East, and Africa operations, emphasized the importance of the West Qurna 1 field in supporting Iraq’s energy goals. He stated, “This contract award deepens our decade-long partnership at West Qurna 1 and reflects the continued trust placed in Wood to deliver complex energy solutions in Iraq. We are proud to combine our global expertise with a strong local workforce to help support Iraq’s energy ambitions.”
Located approximately 50km north-west of Basra, the West Qurna 1 oilfield is estimated to hold more than 20 billion barrels of recoverable reserves. It is a core part of Iraq’s strategy to sustain and potentially increase crude output to global markets, with a production rate of nearly 550,000 barrels per day.
In 2024, ExxonMobil ceased operations at West Qurna 1, transferring its responsibilities to PetroChina, which now owns the biggest share in the oilfield. This transition marked a significant development in the region’s energy landscape, with PetroChina taking the lead in managing the oilfield’s operations.
Wood’s involvement in the West Qurna 1 project comes at a time when the company has accepted a $291.5m (ÂŁ216m) conditional takeover bid from Dubai-based Sidara. This acquisition marks the end of a year-long process that involved multiple offers, showcasing Wood’s strategic growth and expansion in the energy sector.
The information on Wood securing the EPC contract for the West Qurna 1 oilfield in Iraq was originally published by Offshore Technology, a GlobalData owned brand. As with any industry news, it is important to seek professional advice before making any decisions based on the content provided.
Overall, Wood’s latest contract in Iraq underscores the company’s commitment to delivering innovative energy solutions and supporting the nation’s energy ambitions. With a strong track record of success in the sector, Wood continues to be a key player in Iraq’s energy landscape, contributing to the country’s economic growth and energy security.
