Petrofac makes move into Iraq to boost order book

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Iraq is a new and potentially lucrative market for the company's main business — engineering and construction — as big western firms move in to exploit rich reserves.

FTSE 100-listed Petrofac said its backlog of work was estimated to be worth $6.9 billion (£4.6 billion) this month. By the end of 2010, it expects it to be above $8.1 billion.

As well as Iraq, its engineering and construction division continues to bid for contracts in its core markets of the Middle East, Africa and around the Caspian Sea.