Iraq may ask IOCs to fund export infrastructure

28 September 2010

BOT model is being considered

Iraq has asked international oil firms that won contracts to develop its vast oil reserves whether they are interested in financing the country’s huge crude export infrastructure projects, Reuters has reported. Options being considered by the government include asking oil companies to either contribute funding or to offer the projects under build, operate and transfer (BOT) contracts, deputy oil minister Abdul Kareem Luaibi said. “The big projects and pipelines need several billions, so now we are studying the issue of financing, either to be through the BOT model, or that the oil companies take part in funding, or both ways,” he told the news service.

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