Iraq’s Ministry of Oil is seeking financing for two refinery projects that are key to raising Baghdad’s downstream potential.
The refineries are located in:
- Diwaniyah governorate (70,000 barrels a day (b/d))
- Kut in Wasit governorate (100,000 b/d)
The ministry has offered up the two facilities for investment based on the build-own-operate-transfer (BOOT) or the build-own-operate (BOO) model, according to the country’s specific law for investments in refinery projects.
Investors have until 14 June to submit bids.
The appeal for investments and the timeline are similar to the call for financing the Iraqi oil ministry made last week for the Haditha refinery.
Investments to increase refining capacities of vital units as well as into the national distribution network, has helped Baghdad meet domestic need, along with the growth in output of liquefied gas products.
Iraq has been seeking capital investment for refurbishing and expanding existing refining complexes, particularly for downstream projects in Kirkuk, Maysan, Nasiriya, Faw, Anbar and Nineveh.
The ministry said it also plans to build refineries outside the country for raising overall production.