South Korea's Daewoo Secures $708.6 Million Iraq Field Contract

[IQD1217]

July 28, 2013

South Korea's Daewoo Secures $708.6 Million Iraq Field Contract

South Korea's Daewoo Engineering and Construction Co. Ltd. (04704.SE) has won a contract valued at $708.6 million to upgrade the Akkas gas field in western Iraq, an Iraqi cabinet statement said Sunday.

Daewoo will provide engineering, procurement, construction and commissioning of a central processing facility in the field located in the western Anbar province, the statement said.

Construction of the new facility would take some 46-and-half months from start of work, the statement said. Kogas is developing the Akkas field, which holds an estimated 5.6 trillion cubic feet of gas, under a 2011 contract with the Iraqi oil ministry.

Akkas is near the border

[sxsess]

RV already!

[arewethereyet777]

Thanks IQD, I love to see investing articles  

[waterman13]

708 million, under a 2011 contract. Come on Iraq! You could be generating power from this by now, or near completion anyway. Pumping natural gas, selling it, etc. GET IT TOGETHER!

WM13

Edited July 29, 2013 by waterman13

[sandfly]

UR RIGHT

[Boozer]

RV plz