Basrah Oil Company declared the start of the first stage of work and cooperation with Chevron American Company to develop some of the oil fields and build an energy company.
Mr. Ihsan Abdul-Jabbar the director general of Basrah Oil Company said that the agreement of cooperation in the agreement provides to start the work according to studied steps, such as, the preparation of the initial studies of for the fields according to practical steps and by depending on the new technology. Then an energy company must be established to meet the three work stages which are, the field development, preparation of reservoir studies and start the extraction operations. In addition to the manufacturing and completion operations, such as treatment and investment of gas. In addition to the construction of an oil refinery.
Mr. Abdul-Jabbar said that this project will provide jobs for the local citizens, in addition to the social services to the governorate.
Mr. Majid Hadi the representative of Chevron said that his company has a variety of work fields with the ministry of oil including the studies, training and development. And the agreement which was made is the base of the projects which will be executed in the soon future to develop the oil fields.
It is worthy to say that the memorandum does not commit Basrah Company with any financial issues, because Chevron have taken the responsibility of making the studies and development plans by consultation with Basrah company to prepare for the future contracts between them.
Source: Ministry of Oil