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The Ministry of Petroleum and Mineral Resources, commissioned by the political leadership, is working to expedite the completion of the action plan to restore the oil installations of the Arab brothers in Iraq, which were destroyed by ISIS terrorist gangs, and they were plundered and all the equipment of refineries and oil fields were sold.
A senior official at the Ministry of Petroleum said that the ministry is currently negotiating with the Iraqi side to start implementing the works that were agreed upon during the visit of Dr. Mustafa Madbouly, the Iraqi Prime Minister, at the end of last October.
The official explained to Al-Dustour that it has been agreed in principle to establish new petroleum, petrochemical and refining projects in some Iraqi cities, due to the huge potential that these sites possess in producing oil, which would allow the entry of a large number of Egyptian oil companies operating in all industry activities. Oil and gas, as well as petroleum construction companies and trained Egyptian manpower with international experience in the fields of refining and petrochemicals.
He pointed out that an agreement is currently being made on how to start work in that there will be Iraqi petroleum projects that will be rehabilitated, which have been destroyed by ISIS terrorist gangs, including refineries, and that will be through the agreement signed by the Minister of Petroleum and Mineral Resources during the Prime Minister’s visit Reconstruction, and a new working mechanism will be defined for how to benefit from oil, especially since oil prices are currently on a gradual rise due to hopes of a new Corona vaccine and the return of long-suspended economic activities and the return of transportation and ships that depend entirely on fuel.
He said that with regard to the reconstruction projects in exchange for oil that will start work soon, the most important of which are the Iraqi oil fields and refineries, as Egypt is currently working on the construction of more than 26 oil tanks in different areas in the Western Desert and the Gulf of Suez, which will be among the largest oil reservoirs in the Middle East in terms of The capacity and specifications that will allow storing nearly 30 million barrels, which President Abdel Fattah Al-Sisi ordered to quickly finish to start the storage process, and the companies "Petrojet, Petroment, Sumed, Petroleum Pipelines, Enppi, Schneider, the General Petroleum Company and a large number of Egyptian oil and construction companies are nearing completion."
As for the new petroleum and petrochemical projects to be launched in Iraq, there are some of them outside the oil-for-reconstruction agreement, and work on them will start from next year 2021, and will include many petrochemical projects to maximize the added value of Iraqi oil and work to manufacture petroleum products with Egyptian hands to limit its import and suffice There will also be projects to deliver natural gas through Egyptian companies to power stations that will be inaugurated by Egyptian-Egyptian cadre companies and work on transferring expertise to the brothers in Iraq.
An Egyptian-Iraqi company for the petroleum sector will also be launched, in order to facilitate the entry of workers in the sites to be worked at.
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