BGR Energy awarded USD 9.29 Million contact by State Company for Oil Projects (SCOP), Baghdad, Iraq

Oil & Gas Equipment Division of BGR Energy Systems Ltd has been awarded a contract for Design, Engineering, Manufacture and Supply of 70 Nos. of Oil Products Storage Tanks for new Aumara Oil Products Depot, Iraq. The contract is valued USD 9,295,300 Million and will be completed over 12 months period.The scope of contract includes Design, Pre-fabrication and supply of Steel Storage Tanks along with Cooling Water System, Foam System, Fire Protection System, Radar Gauges and other instrumentation. This contract was secured by BGR Energy Systems Ltd from State Company for Oil Projects (SCOP), Ministry of Oil, Iraq in an International competitive bidding.8 Companies bid for this tender but only 4 Companies viz., Elite Engineering, Petrel - Machman JV and Cheltok were technically qualified along with BGR Energy. It may be recalled that BGR Energy is currently executing 3 Nos. of contracts for SCOP, Iraq for Design and Supply of Gas Processing Complex and Storage Tanks for an aggregate value of USD 94.48 Million.The stock closed the day at Rs.303.70, up by Rs.6.95 or 2.34%. The stock hit an intraday high of Rs.313 and low of Rs.297.The total traded quantity was 111612 compared to 2 week average of 64554.