The Iraqi Oil Ministry is working hard on the selection of various international investment companies in order to construct 5 new refineries in the provinces.
The ministry stressed that the Iraqi Oil Ministry financed the Karbala refinery.
It would save about 9 million liters of gasoline per day in addition to other outgrowths, after its completion.
The undersecretary for liquidation affairs of the ministry, Hamed Al-Zobaie issued a press statement that oil ministry has planned to construct 5 new refineries in the country through investment and a number of refining cards.
He pointed out that the Iraqi oil ministry is responsible and in charge of the project.
He added that the qualification process involves the capabilities of investment companies that need to invest from the financial side.
It is noteworthy that the construction of the refinery needs a financial cover of up to 3 billion U.S dollars in addition to ensuring the commitment of advanced companies to the deadlines and completion in addition to the technical capabilities of those companies.
Zubai added that the following refineries will be on the investment including Kirkuk with 70 thousand barrels per day, Wasit card with 140 thousand barrels per day, Nasiriyah with 140 thousand barrels per day, Basra with 140 thousand barrels per day, and FAO capacity with 300 thousand barrels per day.
He announced that the oil ministry is currently based on the financing of the Karbala refinery.
It has achieved completion rates of 78%, in addition to the rehabilitation of a number of refineries, including Salah Al-Din 2, and expected to be completed soon.
Al-Zubaie also announced the installation of modern units in the refineries established and developed according to international standards.
He explained that the Karbala refinery will participate in about 9 million liters per day of high-quality gasoline.
He said the rehabilitation process is carried out by the Iraqi staff.
Al-Zubaie also pointed out that the rehabilitation and development processes to double the design capacities.
The cost of rehabilitation is considerably lower than the construction of refineries and high productivity due to the presence of industrial, technical, and construction services.