+44(0) 800 772 3004
marketing@ziyen.com

Iraq Ministry of Oil News: Basra Oil Company signs a memorandum of principles for the establishment of the industrial island in the territorial waters with a Dutch company

Mr. Al Ghadhban said that the signing of the memorandum of principles for the establishment of the industrial island with the Dutch company "Boskalis"

Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Abbas Ghadhban confirmed Iraq's keenness to develop its export capabilities through the implementation of projects to increase export capacity from the southern outlets, this came during his patronage of the signing of the memorandum of principles for the establishment of the industrial island between the Basra Oil Company and the Dutch company "Boskalis" .

Ghadhban said that the ministry after the approval of the Council of Ministers is working on the implementation of the project to establish an industrial island in the territorial waters in the Gulf, aimed at increasing Iraq's export capabilities and treasury, and is one of the promising projects in the oil sector.

Mr. Al Ghadhban said that the signing of the memorandum of principles for the establishment of the industrial island with the Dutch company "Boskalis" comes to add storage capacity of more than 6 million barrels per day, in addition to the export capacity of 3 million barrels per day to the current export capacity, pointing out that the project is a vital projects The strategy implemented by the Ministry of Oil to develop the national economy and increase financial revenues of the federal treasury.

For his part, the Director General of the Basra Oil Company, Ihsan Abdul Jabbar, said that the establishment of the industrial island will give a qualitative leap and great flexibility in future export capacities from the south, especially that the production of the Basra Oil Company is on a steady rise, and we are working to keep pace with the expected increase in production and export operations.

For his part, the Dutch Ambassador to Baghdad (Eric Stratenk) that his country's companies want to develop and strengthen relations with Iraq in all areas, especially in the field of energy, and this celebration comes to strengthen cooperation between the two friendly countries.

For his part, the representative of the company (Ko de Blaeij) expressed his happiness to cooperate again with Iraq, and the company will prepare detailed studies for the construction of the island within one year and then start the implementation of the work, which takes two years, and thus the duration of the planned implementation of the project 3 years, and that our company is working In Iraq for more than three decades.

The ministry spokesman Assem Jihad said that the industrial island in the territorial waters will give Iraq high flexibility in the process of exporting and loading oil tankers, in addition to raising the storage and export capacity of southern ports, where the storage capacity of crude oil will be added more than 6 million barrels per day, and add export capacity 3 million barrels per day from the southern ports, pointing out that the project includes the construction of an integrated industrial island and the construction of a breakwater anchorage and the construction of two offshore pipelines and the construction of 4 berths for loading with a residential complex and other service facilities.

Source: Ministry of Oil 

Categories

Read more news like this