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In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develop it
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Economy News - Baghdad
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Added 05/12/2024 - 7:01 PM
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Basra oil
Basra oil
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Economy News - Baghdad
The Basra Oil Company clarified the economic importance of the Tuba oil field after signing a contract of principles agreement (HOA) with the alliance of the Chinese Geo Jed Company and the Iraqi Crescent Company.
The Director General of the Basra Oil Company, Bassem Abdul Karim, said in a statement reported by the official news agency, and seen by Al-Eqtisad News, that “the goal of the signing is to achieve a production of up to 200 thousand barrels per day, as well as 50 mqmq of gas (one million standard cubic feet).” .
He added, "The development process also includes the establishment of a refinery with a capacity of 200,000 barrels and two power plants, the first with a capacity of 800 megawatts, and the second for solar energy with a capacity of 400 megawatts, in addition to establishing a petrochemical plant to produce approximately 1,300 tons annually of polypropene and polyethylene, as well as urea fertilizer."
Today, Sunday, Oil Minister Hayan Abdul-Ghani sponsored the signing ceremony of an agreement of principles (HOA) with a Chinese-Iraqi coalition to develop the integrated Tuba oil field.
He added, "The development process also includes the establishment of a refinery with a capacity of 200,000 barrels and two power plants, the first with a capacity of 800 megawatts, and the second for solar energy with a capacity of 400 megawatts, in addition to establishing a petrochemical plant to produce approximately 1,300 tons annually of polypropene and polyethylene, as well as urea fertilizer."
Today, Sunday, Oil Minister Hayan Abdul-Ghani sponsored the signing ceremony of an agreement of principles (HOA) with a Chinese-Iraqi coalition to develop the integrated Tuba oil field.
Views 104
Added 05/12/2024 - 7:01 PM
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