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Mubasher: The Iraqi Ministry of Oil, represented by the North Refineries Company, signed today, Thursday, a memorandum of agreement of principles ( HOA ) to implement the Qayyarah Refinery Investment Project with a refining capacity of 70,000 barrels per day, with the Swedish companies SEAB and Limak ) Turkish, under the auspices of the Minister of Oil , Ihsan Abdul-Jabbar Ismail.
The Undersecretary for Liquidation Affairs, Hamed Younis, said during the signing ceremony that the ministry is keen to advance the liquidation sector through an axis related to plans to develop government refineries, by adding advanced units to increase production and improve products, and another axis related to the establishment of advanced investment refineries distributed throughout Iraq and as needed. The population density aims to cover and meet the local need.
Younis added that the memorandum of agreement of principles for the implementation of the Qayyarah Refinery Investment Project comes in this context, and represents an important addition to the refinery sector, especially for Nineveh Governorate.
For his part, General Manager of the North Refineries Company, Qassem Abdel Rahman, said that the memorandum of principles with the companies (Seeb) and (Limac) outlines a roadmap for an investment contract for the Qayyarah refinery with a capacity of 70,000 barrels per day, using complex and advanced technologies to treat heavy oil and turn it into white products. European specifications (Euro 5).
For his part, Director General of the Studies, Planning and Follow-up Department, Nasir Aziz, said that this project is in line with the Crude Oil Refining Investment Law No. 64 of 2007, and is included in the ministry's investment plan to develop the refining sector using modern technologies to treat heavy oil in Qayyarah, Nineveh Governorate.
Aziz stressed that the project represents a qualitative leap and an important addition to the filtering sector, and adopts clean, sustainable and environmentally friendly energy standards.
A representative of the company ( SEAB ), Taher Ablahad Qariou, said that negotiations with the concerned authorities in the ministry took more than a year to reach the formula of the principles agreement, followed by the signing of the contract after 3 months, during which the contracting companies submitted their financial and technical commitments and documents for the project.
Meanwhile, the representative of ( Limak ) company , Abdul Hakim Madhi, affirmed his company's readiness to implement the project, which is one of the important projects in the refining sector, using the latest equipment and technologies for treating heavy oil.
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