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Oman looks for strategic deal with Iraq

Omani media organs reported that the proposed agreement does not any trade conditions for Iraq, except the idea of expanding Omani Duqum

Muscat/ Iraq TradeLink: Oman is trying to make a strategic contract to store oil as part of its plan to increase its export outlets towards the Asian markets.

Omani media organs reported that the proposed agreement does not any trade conditions for Iraq, except the idea of expanding Omani Duqum Trade Zone by 15% over a space of 2000 kilometers to build oil storage system.

The proposed storage system is expected to accommodate 200 million barrels of oil.

According to strategic studies, this center will provide Iraq with an important vent for South East Asia and Africa, as well as a strategic storage area for oil producing countries in the region.

Earlier, Iraqi oil ministry offered to build an investment refinery in southern Basra province, with the capacity of 300.000 b/d , liable for extension, in addition to a petrochemical complex.


The implementation of this new project shall be through "BOT" and "BOO" principles according to refineries investment law. 

 Source: Iraq TradeLink

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