Iraq Attracts Investments for Petrochemical Projects

Iraq Attracts Investments for Petrochemical Projects

Iraq has received a number of offers from international companies to establish petrochemical plants across the country, Asharq Al-Awsat reported.

“The ministry has a project with Royal Dutch Shell to develop the natural gas industry in the country through the establishment of an advanced plant for petrochemical industries, which are connected to the gas industry,” Iraq’s Ministry of Oil spokesman Assem Jihad commented.

The ministry has developed a strategy to increase investment in gas through the establishment of Basrah Gas Company, as well as another investment agreement for the Nasiriyah and Gharraf fields.

Moreover; the government is also working on consultation deals for investments in Basra and Maysan governorates.

“In addition to the expected economic gains from these investments, the increase in production will cover a large part of the local demand, which will be increased by the growth of industrial, commercial, and housing development,” Jihad added.

On the other hand, “Korean companies resumed work on the Akkas gas field, which is one of the largest fields in Iraq,” the oil ministry spokesperson further noted.


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