South Korea’s STX Group to build $449m Iraq export gas pipeline.

South Korea’s STX Group has won a contract valued at $449 million to build an export pipeline for the Akkas gas field in western Iraq, an Iraqi cabinet statement said late Tuesday.

STX will design and provide engineering, procurement, construction and commissioning of the export pipeline for the field located in the western Anbar province near the border with Syria, the statement said.

[tbpspa]

The company, part of STX Corp. (011810.SE), said work on the pipeline would take just under four years, but didn’t specify the length and the size of the pipeline or if it would be extended through Syrian territory.

Kogas (036460.SE) is developing the Akkas field, which holds an estimated 5.6 trillion cubic feet of gas, under a 2011 contract with the Iraqi oil ministry.

This year, South Korea’s Daewoo Engineering and Construction Co. Ltd.  won a contract valued at $708.6 million to upgrade the Akkas gas field.

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