China close to $650m Iraq oil pipeline contracton Jan 25, 2013
The Dubai-based Iraq branch of the China Petroleum Pipeline (CPP) company is said to be close to winning a $650m contract to build a pipeline linking the southern oilfields of Maysan province to the Al Faw storage depots.
“This project will expand oil export capacity from producing oilfields of Maysan and Halfaya, and other small fields. It will definitely remove all exports constrictions,” the chief of state-run Maysan Oil Co, Ali Maarij, told Reuters.
He added that CPP was close to winning the engineering and construction for the 300km project.
On the new line a 42-inch diameter pipe specification will replace an existing outdated 28-inch pipe currently shipping crude from the southern fields in Ammara to storage facilities near Basra.
The new pipeline should be operational at the start of 2014, facilitating a planned increase in output from the current 230,000 bpd to around 400,000 bpd.
- CWQ Awards 2014 to bring together 'big players'
- Deyaar: Record increase in net profits for Q2 2014
- QD-CPC announces new business division
- GCC govts to lead $898bn construction boom by 2020
- New office space causes Riyadh rents to fall
- Saudi firms win new Jizan deals worth over $18m
- EFS wins MENA FM contract with General Electric
- Norwegian innovators bags Kuwait waste sorting win
- Emaar's Downtown cultural quarter moves on site
- Empower expands Business Bay unit