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Canadian firms to assist construction of 2 refineries in northern Iraq  Join our daily free Newsletter

MENAFN - 02/01/2008
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(MENAFN) An official at the Kurdish Regional Government (KRG) in northern Iraq announced that the government is planning to establish two refineries valued at a total of $300 million with Canadian oil companies, Iraq Directory reported.

The KRG will provide four production-sharing contracts to finance the building of two oil refineries with a capacity of 20,000 barrels daily, the official pointed out.

The four contracts are valued at $800 million, the first refinery will be situated in Miran and will be completed by 2010 and will be undertaken by Canada's Heritage Oil.

The second refinery, located at the Taq Taq oil field, would be established by Genel and Canada's Addax Petroleum and completed in early 2009.

 




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