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The Ministry of Oil Signs a Memorandum of Cooperation with Al Arfaj Kuwaiti Company.

We confirm on our keenness to execute the investment projects to build the refineries inside and outside Iraq in order to elevate the production capacity of the oil products to meet the local need.

Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil said that it is a priority for the ministry of oil to invest the flare gas perfectly and to execute the projects of refining, petrochemicals and development of infrastructure of oil products distribution.

   Mr. Al-Luiebi met with the delegation of the representatives of Al-Arfaj Kuwaiti holding company headed by Mr. Saud Al-Arfaj. And Mr. Fayadh Hassan Niema the deputy minister for refining, and Dr. Hamid Yonis Salih the deputy minister for gas industry, in addition to the studies & economic directorates.

   Mr. Al-Luiebi said... “We confirm on our keenness to execute the investment projects to build the refineries inside and outside Iraq in order to elevate the production capacity of the oil products to meet the local need. And the ministry of oil is aiming also to build refineries outside Iraq by cooperation with the specialized international companies”.

   Mr. Al-Luiebi said also that the ministry of oil is aiming by depending on the investment projects to elevate the production levels to 2 million barrels/ day of oil products within the year 2020.

   On the sidelines of the meeting. The ministry of oil “represented by Mr. Fayadh Hassan Niema” signed a memorandum of cooperation with Al-Arfaj Company. The memorandum included the formation of a coordination committee between the two sides to exchange the information about the projects in the zone and the world. The memorandum included also the desire of the company to participate in the flare gas investment project and the methanol production, as well as to invite the ministry of oil to contribute in the investment of the project of building an oil refinery in India with a petrochemicals complex.

   Mr. Niema said also that the ministry of oil shown its readiness to enter with the Kuwaiti companies in the investment projects to increase the cooperation and the relations between the two countries, as well as to increase the field of investment.

Source: Ministry of Oil

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