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FINANCIAL NEWS
Dubai’s DSI wins USD357.7m EPC contract in Iraq
01 Oct 2012
(MENAFN) Dubai-based contractor Drake & Scull International (DSI) has won a joint contract with Italy’s Sicim spa worth USD357.7 million in Iraq, the company said in a press release.
The Engineering, Procurement and Construction (EPC) contract, in which DSI owns 50 percent, is to undergo a pipeline installation at the Zubair Oil Field in southeastern Iraq.
The company said it will provide EPC services for oil and water flow lines, water trunklines, oil transfer pipelines, and connections to wellheads and degassing stations, along with Sicim.
The Zubair Oil Field is considered one of the largest in the world, and is developed by a consortium led by Italian energy firm Eni.
DSI is a regional market leader in the integrated design, engineering and construction disciplines of Civil Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail and Oil and Gas.
The company has been focusing on overseas markets to offset weakness at home. It has reported USD408.3 million revenues for the first half of the year and has a backlog of around USD2 billion so far.
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