Oil signed with a Kuwaiti company an investment record in the associated gas project and production of methanol

Oil signed with a Kuwaiti company an investment record in the associated gas project and production of methanol



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02/23/2018

Economy News Baghdad:

The Ministry of Oil signed a memorandum of understanding with the delegation of representatives of Al-Arfaj Holding Company in Kuwait .

The Oil Ministry said in a press statement received by "Economy News" that "Oil Minister Jabbar Luaibi met with a delegation of representatives of the Kuwaiti company Arfaj Holding, headed by Saud Al Arfaj, and during the meeting signed the ministry represented by the Undersecretary of the Ministry of liquidation Fayad Hassan Nima Minutes of a meeting with the company Arfaj included formation A coordinating committee between the two parties to exchange information on the implementation of projects in the region and the world . "

"The report also included the company's desire to invest in the associated gas investment project and the production of methanol, as well as the company's invitation to the Ministry of Oil to contribute to the investment in the construction of an oil refinery in India with a petrochemical complex ."

"According to the statement," one of the Ministry's priorities to optimize the investment of gas associated with the implementation of liquidation projects and petrochemicals and the development of infrastructure for the distribution of oil derivatives . "

He pointed out that "the ministry is keen to implement investment projects for the construction of refineries inside Iraq to increase the production capacity of oil derivatives, and to cover and meet the actual need for domestic consumption. Moreover, the ministry has ambitions and directions for the establishment of refineries abroad in cooperation with specialized international companies .

"The Ministry of Oil and through the investment projects put forward to compete with international companies aspiring to reach high rates of production of oil products up to 2 million barrels per day during the year 2022. "

For his part, the Undersecretary for Liquidation Affairs, said that "the ministry expressed its willingness to enter into investment projects in cooperation with Kuwaiti companies to enhance the volume of cooperation and relations between the two countries and open up broad areas of investment."

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