Denmark’s Phoenix Bags $86m Basra Pipeline Contract
Danish company Phoenix International has signed an $86m (100 billion IQD) contract with Basra Investment Commission for the production of oil pipelines.
AKnews reports that Phoenix was granted the project licence for a 250-acre area in the town of Umm Qasr, in southern Iraq.
The licence is for 35 years, which is subject to renewal.
The company aims to produce three types of oil, gas and water pipes for a variety of onshore and offshore uses.