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The Ministry of Oil Invites the International Companies to Invest in the New Pipeline

The Project Includes Also The Construction of a Gas Pipeline, Pumps and Reservoirs, In Addition to the Other Completed Accessories and Services.

The ministry of oil invited the local & international specialized companies to participate in the execution of the oil exportation pipeline extension which extends from the fields of Kirkuk to the Iraqi- Turkish border.

Mr. Assim Jihad the spokesman of the ministry of oil said that the oil projects company invited the local & international companies to participate in the execution of the project to extend the pipeline side by side with the old strategic pipeline to Ceyhan Turkish port.

Mr. Jihad said also that the pipeline extends over 350 kilometers with 48 inches diameter. The pipeline is capable to transport 1 million barrels/ day and will be executed according to the (Boot) investment method, which includes the construction, property, operation and property transfer. Which means that the investor company will spend on the project and take back the cost after the operation within the agreed period. The government and the ministry does not bare or pay any money or spending over the project at the current time, but after the operation. The project includes also the construction of a gas pipeline, pumps and reservoirs, in addition to the other completed accessories and services. The contract also commits the winner consortium companies to share with the local companies with 25% or more of the project proportion within the consortium.

Mr. Jihad said also that the oil projects company have determined the 24th of January 2018 as the last date for the companies to present their participation letter

Source: Ministry of Oil

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