Smit Lamnalco acquires Iraqi SPM contract

Contracts, Tenders and Rates - September 14, 2012

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Royal Boskalis Westminster hasannounced that its associated company, Smit Lamnalco, has been awarded a significant annual contract by Petrofac to support Single Point Mooring (SPM) operations 20km off the Al Fao Peninsula for the Iraq Crude Oil Export Expansion Project (ICOEEP).

The annual contract value is approximately US$70 million (of which the company's share is50 per cent) and services will commence November 2012.

TheSPM contract covers operations and maintenance of four SPM systems. The contract has an initial duration of 12 monthswith two annual extension options resulting in a potential total contract value of US$200 million.

The agreement involves the full scope of maritime support services for the crude oil export facilities.

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