By John Lee.
Iraq is reportedly ramping up efforts to expand capacity to pump and export oil.
Ihsan Abdul Jabbar, the director-general of state-run Basra Oil Company, told Bloomberg that Iraq is seeking bids from six companies for a $4-billion project to inject seawater into its southern oil fields, and the country has already received bids from five companies interested in building a processing facility to double output at the Majnoon field to 450,000 bpd.
He added that Iraq is also studying a proposal from a Dutch company to build a 10 million-barrel storage facility and an oil-exporting terminal with a capacity of 2 million barrels a day on an artificial island off the coast.
(Source: Bloomberg)