US delays new Iraq oil infrastructure contracts

11/10/2003
The US Army Corps of Engineers Oct. 29 said it expects as long as a 2-month delay in awarding two new Iraq oil infrastructure contracts because it plans to expand the value of the original tender.The two new contracts each still have a minimum value of $500,000 but as amended, the contract could reach as much as $800 million for the northern oil fields and $1.2 billion in the south, which includes Baghdad. The new estimates reflect revised expectations on the pace and scope of repairs needed. More money is needed in the south because the region has more oil wells, processing plants, and has experienced greater looting and damage, USACE said. The original contracts had a maximum value of $...
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