Petrofac bags EPC contracts worth $100mn in Iraq
Petrofac has secured a contract extension and a new award with a combined value of more than $100mn for construction management, engineering, commissioning and start-up services for two International Oil Companies (IOCs) in Iraq.
The award builds upon $70mn of new awards in Iraq announced in April, giving the group a positive pipeline of future work in the country and securing around 250 jobs.
Petrofac said the awards “reflect the extensive track record Petrofac has been amassing in the country since 2010”.
“We’re delighted the IOCs in Iraq continue to choose Petrofac to support their operations,” Mani Rajapathy, Managing Director, Engineering and Production Services East.
“Iraq is an important market for us and, as evidenced by the number of awards we’ve secured there this year, we’ve consistently proven our delivery and execution capability on behalf of our clients.
“As we move forward, our teams will remain focused on ensuring services are delivered in alignment with our clients’ expectations to enable them to maximise value from their oil and gas assets.”
Hydrogen Map shows 57 projects are operational globally
Currently there are 57 projects operational and a further 58 will be in development by the end of 2021. Construction of another 92 are slated to begin in the next decade.
Western Europe and Asia Pacific, which account for more than 83% of known low-carbon hydrogen projects, are driving growth, but US projects are rising. The US is well positioned to lead the green hydrogen economy due to the abundant, low cost renewable energy sources needed to produce it, such as wind, solar, hydropower and nuclear, according to McKinsey.
A hydrogen production facility being built at the Tabangao refinery in Batangas, Philippines is slated to be the first to generate blue hydrogen, in which hydrogen is produced using fossil-fueled sources but the resulting carbon emissions are captured, stored or reused.
"Low carbon hydrogen and ammonia production is the key to decarbonising the hard-to-decarbonise sectors like transportation, industry and buildings”, said Pillsbury energy partner and Deputy Energy Industry Group leader Elina Teplinsky.
"This map will be a helpful tool for a broad audience of policy makers, industry participants and investors, sustainability analysts, advocates and journalists tracking the development of low-carbon hydrogen projects and encourage dialogue between those parties to further accelerate adoption of this transformational technology."
"With governments and enterprises worldwide increasingly prioritising decarbonisation goals, we are laser-focused on helping clients capitalise on the enormous opportunities that the ongoing energy transition presents,” said partner Sheila Harvey, who serves as firm-wide Energy Industry Group leader at Pillsbury and co-leads the firm’s Hydrogen practice.
Hydrogen practice group co-leader Mona Dajani, who heads Energy & Infrastructure Projects and Renewable Energy teams, said energy demand is driving significant innovation in the hydrogen space.
"Green hydrogen projects, which combine renewable power sources with hydrogen production, are unlocking new possibilities for regions previously constrained by weak grid connections and transmission bottlenecks and marking a crucial step in the development of the green hydrogen business case," she said.
New Australian clean energy storage startup Endua aims to build hydrogen-powered energy storage and deliver sustainable, reliable and affordable power.
Endua is backed by $5 million in funding, technology and industry expertise from CSIRO, Australia’s national science agency; Main Sequence, the deep tech investment fund founded by CSIRO; and Ampol, the country’s largest fuel network.