Petrofac Iraq Revenues Down

By John Lee.

Petrofac has announced that for the year ended 31st December 2020, the company had revenues of $238 million in Iraq -- $105 million in engineering and construction, and $133 in engineering and production services.

This represented about 6 percent of the company's total turnover, and was down from a total of $325 million in 2019 ($145 million in engineering and construction, and $180 in engineering and production services).

In its Annual Report for the year,  the company said that Iraq accounts for 7 percent of its total backlog of $1.7 billion, implying a backlog in Iraq of approximately $119 million.

(Source: Petrofac)

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