(MENAFN- Iraq Business News) By John Lee.
Dutch company Royal Boskalis Westminster has signed a ‘memorandum of principles' to construct an industrial island for the Basra Oil Company (BOC) in Iraq's territorial waters in the Gulf.
Iraqi oil minister Thamir Ghadhban said the project will add export capacity of 3 million barrels per day (bpd).
The Dutch Ambassador to Baghdad, Eric Strating, said his country's companies want to develop and strengthen relations with Iraq in all areas, especially in the field of energy.
On behalf of Boskalis, Ko de Blaeij said detailed studies would be completed within one year, with construction taking a further two years. He added that the company has been working In Iraq for more than three decades.
The project includes the construction of an integrated industrial island, a breakwater anchorage, two offshore pipelines and 4 berths, in addition to a residential complex and other service facilities.
(Source: Ministry of Oil)
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