Iraq will be able to raise its crude oil export capacity by 900,000 barrels a day by the end of this year, bringing its total export capacity to around 3 million barrels a day, the country's deputy oil minister said Monday.
Iraq
will
be able to raise its crude oil export capacity by 900,000 barrels a day by the
end of this year, bringing its total export capacity to around 3 million
barrels a day, the country's deputy oil minister said Monday.
The Iraqi Oil Ministry has also extended a closing date for receiving bids for
a fourth floating export terminal, known as a single-point mooring or SPM, from
the end of December until April, Ahmed al-Shammaa told Dow Jones Newswires.
Iraq
awarded last year a contract worth $733 million to Leighton Offshore Private
Ltd. and Foster Wheeler Ltd. (FWLT) to build three SPMs in the southern
port
of
Basra
and
to extend two sea export pipelines each of 60 kilometers in length.
"One of the three SPMs and a pipeline linking oil fields with the terminal
will be completed by the end of this year," Shammaa said. The new terminal
will add 900,000 barrels a day to the current 1.6 million barrels a day
capacity of existing terminals in
Basra
, he
said.
Shammaa said the remaining two SPMs and a second pipeline are expected to be
completed by the end of next year, adding another 1.8 million barrels a day to
the export capacity.
The fourth SPM will be awarded to one of several prequalified companies, he
said.
"I am expecting the deal to be awarded in June this year," he said. This
SPM will be funded by the Japanese International Cooperation Authority, which
is part of the $5 billion
Japan
pledged to
Iraq
in
2003.
Each new SPM will be able to handle 900,000 barrels a day, or a total of 3.6
million barrels a day of oil exports, he said.
The capacities of southern export terminals need to be increased to cope with
an expected production boom after
Baghdad
signed with international oil companies over the last year some 12 megadeals to
develop some of its prized oil fields.
Iraq
is
currently exporting around 2 million barrels a day, and has a production
capacity of around 2.7 million barrels a day but it lacks terminals and outlet
to export all of its output.
Διαβάστε ακόμα
Τρι, 24 Σεπτεμβρίου 2024 - 19:58
Τρι, 24 Σεπτεμβρίου 2024 - 19:54
Τετ, 18 Σεπτεμβρίου 2024 - 18:32
Τετ, 18 Σεπτεμβρίου 2024 - 18:27
Τρι, 17 Σεπτεμβρίου 2024 - 20:01