Thanks to the guarantee issued by SACE SIMEST and Intesa Sanpaolo, the Italian company obtained from Malaysian Petronas an important order of 308 million USD for the construction of an oil rig in southern Iraq
The plant will be built in partnership with China Petroleum Engineering & Construction Corporation, an engineering and contracting company of the Chinese government oil company
SACE SIMEST, the CDP Group's export and internationalization hub, supported - together with the Intesa Sanpaolo Group - the engineering and contracting company PEG, Progetti Europa & Global SpA, in the acquisition of an important contract in Garraf, in southern Iraq.
Thanks to the joint guarantee offered by SACE SIMEST and Intesa Sanpaolo, the Roman company has been awarded the construction of a crude oil treatment plant to be built in the Garraf oil field, near Nassirya, currently managed by Petronas Carigali Holding Iraq Holding BV, Petronas Group, world leader in the Oil & Gas sector.
"We are very proud of this operation because it was finalized in partnership with a global player such as China Petroleum Engineering & Construction Corporation - stated Ing. Paolo Trocca, President of PEG. "We believe this is the result of the bet made in 2012 to ensure a strategic physical presence in the region thanks to the Dubai branch and the Iraq branch. It is essential, especially in a complex market like the Iraqi one, to be close to the main international oil companies and the Ministry of Oil which have their operational headquarters in Baghdad and Basrah.".
PEG (Progetti Europa & Global SPA) is a company active in the design and construction of "turnkey" industrial plants for the Oil & Gas sector and in the design and management of infrastructures such as railways, highways, ports and airports. Oil & Gas builds oil and gas treatment and separation plants, pumping stations, storage facilities and in general transportation systems for petroleum products, especially in Middle Eastern and North African geographies.
Iraq is facing a delicate phase of political, economic and reconstruction transition which, thanks to the influx of international investments, offers companies opportunities for intervention in various sectors. Through this transaction, the SACE SIMEST Pole confirms its commitment to supporting Italian excellence in the world, including in a complex market like the one in Iraq, where fundamental insurance and financial solutions are able to mitigate risks.