STX Heavy Industries To Build 550-Km Pipeline In Iraq

February 2014, Vol. 241 No. 2

According to news reports, South Korea’s STX Heavy Industries Co. has won a $471.5 million contract to build a 550-km pipeline for the Akkas gas field in northwestern Iraq.

Kogas, Korea’s state-owned gas company, will have a 75% stake in the Akkas gas project, up from 37.5%, after Kazakhstan state gas company KazMunaiGas EP JSC is reported to have pull out of the project. The remaining 25% will be held by Iraq’s state-run North Oil Co.

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