OPEC producer Iraq is planning to build an oil refinery in the Southern Faw Peninsula with a production capacity of 300,000 barrels per day (bpd), the official news agency said on Monday.
The Oil Ministry is in touch with foreign firms for the project, which will be announced after an agreement is signed, it said, quoting Oil Ministry spokesman Assim Jihad.
Jihad said the refinery would be awarded as an “investment project” and that it could also include a petrochemical plant.
“After we reach an agreement with a foreign company or a consortium of foreign firms, we will announce project details,” he said.
Iraq, OPEC’s second largest oil producer, is planning to build several oil refineries in a post-war drive to develop its hydrocarbon sector and other facilities.
(Writing by Nadim Kawach; Editing by Anoop Menon)