No 44



USACE Delays Awarding Oil Reconstruction Contracts

The US Army Corps of Engineers (USACE), responsible for the reconstruction of the Iraqi oil sector, has delayed the award of two rehabilitation contracts to return the countrys oil production capacity to the pre-war level of 2.8mn b/d, after changing the terms of the deals and doubling their value.

The USACE issued a statement on 29 October stating that the value of the contracts had been raised from the...