Select a Korean company for a strategic project in Iraq
Select a Korean company for a strategic project in Iraq
2019/6/3 8:41
(Reuters) – The director of the Basra Oil Company has chosen Hyundai Engineering and Construction to build a $ 2.4 billion seawater treatment and injection project, an important project to increase the country’s oil production capacity.
Ihsan Abdul Jabbar told reporters late on Sunday that giving the deal to Hyundai still requires final approval from the Oil Ministry.
He added that the project must be completed within four years and initially produce five million barrels of water per day and eventually to reach 7.5 million barrels per day of water.
Iraq, OPEC’s second-largest oil producer, needs to inject water into its wells or risk losing pressure and facing significant declines, particularly in its old oilfields.
The use of treated seawater is one of the best alternatives because fresh water is scarce resources in Iraq
alforatnews.com
