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[size=32]Two billion and 400 million dollars from "Iraq" to a Korean company ..[/size]
Tuesday June 04 2019 at 10:34 (39 Views)
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Baghdad / Sky Press
2 billion and 400 million dollars will be spent on a Korean company to raise oil production in Iraq.
- An economic deal on which information was circulated yesterday after the director of Basra Petroleum Company, Ihsan Abdul Jabbar, revealed to the Iraqi journalists the selection of Hyundai Engineering and Construction Company to build a project to treat and inject seawater to raise the production capacity of Iraqi oil .
But the deal is suspended pending the signing of the Minister of Oil or his representative in the ministry, the project will be completed within 4 years of the final signature of the Convention, which did not explain the Ministry of Oil why the Korean company was chosen only.
According to the oil official, Iraq needs to inject water in its wells, otherwise exposed to loss of pressure and face the rates of decline especially large in the old oil fields.
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