Iraq calls on int’l companies to fund Al-Faw oil project

Shafaq News / the Iraqi Ministry of Oil called on international companies to participate in the competition for funding Al-Faw oil refinery project that produce about 300,000 barrels per day of crude oil.

"We call on international companies to invest in Al-Faw refinery project in Basra Governorate in the build-own-operate-transfer (BOOT) or the build-operate-transfer (BOT) structure.” Oil Minister Ihsan Abdul-Jabbar said in a statement.

He added, “The project will be eco- friendly and conforming to international standards (EURO_5)”

The minister declared that a petrochemical complex will be included in the future to the project.

For its part, the Studies and Planning Department prepared a project portfolio for the companies intending to participate in the competition.