Iraq’s Oil Ministry is seeking short-term financing for the construction of a crude oil depot in the south of the country.

The deadline for submitting bids to finance the project is 25 April.

The oil depot in Nasiriyah city, the capital of the southern Dhi Qar governorate, is 40 per cent complete and the Oil Ministry is seeking $500m to complete the balance of the work.

The Nasiriyah oil depot is designed to have a capacity of 4 million barrels.

Iraq’s State Company for Oil Projects (SCOP), the operator of the project awarded a contract to the China Petroleum Pipeline Company for the construction of the depot in July 2014.

The Oil Ministry’s Studies, Planning & Follow-Up Directorate will provide the data portfolio of the project.