The Iraqi oil Ministry has signed a memorandum of understanding (MoU) for establishing a refinery in Dhi Qar governorate in order to raise the production capacity rates of petroleum products and fuels as well as improve the output, according to a press release.

The refinery will include units for hydrogenation and fuel in addition to fluid catalytic cracking (FCC) unit, continuous catalytic reforming (CCR) unit, asphalt unit and electric power production unit.

This refinery will be established by the consortium of Chinese companies of NORINCO, PowerChina, and CNEC and the Emirati Al Awasat company. It is expected to produce total of 100,000 barrels per day (bbl/d) and the production will be done according to the European standards and quality of Euro 5.

According to the statement, this project will provide more than 3,000 job opportunities for Iraqi people. The final signature of the contract will be complete after the economic model of the contract which is expected to be done after three months.