London-listed oil services company Petrofac has snagged a major contract to support the BP-operated Rumaila oil field development in Iraq. The contract, potentially worth $500mn, is the largest to be awarded in Iraq since June, when Islamist fighters seized a large chunk of the country.

Petrofac, which runs its operations from the UAE, says the contract covers the provision of general construction management services to BP, which operates the 1.4mn b/d Rumaila field, Iraq’s largest producer, in partnership with China’s CNPC and Iraqi state-owned South Oil. (CONTINUED - 385 WORDS)