Iraq to Offer Kirkuk Refinery for Bidding by End-2012
Iraq’s State Company for Oil Projects (SCOP) will offer the construction of the Kirkuk oil refinery to international companies on a build, operate and own (BOO) basis in December 2012, according to a report from Steel Guru.
The report quotes Mr Salar Ameen, deputy chairman of the National Investment Commission (NIC) as saying that “feasibility studies are ongoing with two Italian and American advisers. The Iraqi oil ministry will make public the specifications before the end of the year. The refinery will cost approximately of USD 6 billion with a capacity of more than 150,000 barrels per day of oil“.
Mr Ameen said that companies from the US, China, Korea, Saudi Arabia and the UAE have expressed interest in bidding for the project. Construction is expected to be completed by the end of 2016.
The Kirkuk refinery project is part of the oil ministry’s plan to build several refineries across the country to meet increasing domestic demand. These refineries will have a total capacity of 740,000 barrels per day at an estimated cost, according to the report, of $20 billion.
(Source: Steel Guru)
(Photo: Najaf Refinery)