Russia-Iraq To Build A Giant Petrochemical Project In West Qurna Field

BAGHDAD / NINA / Ministry of Industry and Minerals announced that it plans to make a partnership contract with the Russian company Lukoil to set up a giant petrochemical project in the West Qurna field in Basra province. The Information Office of the Ministry quoted the Chairman of the petrochemical and fertilizer industries as saying during a meeting with representative of Russia's LUKOIL Elijah Andlj: "The economic and technical feasibility showed positive results for the establishment of a project for the production of petrochemicals by the extensive preliminary study prepared by both sides since earlier in 2013, in order to invest the surplus gas associated with crude oil in the West Qurna field. " He added: "This meeting came to complete the project's requirements, such as provision of fuel and the allocation of land to set up the infrastructure, in preparation for the conclusion the partnership agreement, which commits both parties to work together for the success of the project which is worth of speculative 8-10 billion US." He concluded that views had identical on the establishment in the province of Basra because it contains sources of energy. / End