Iraq: Iraq Weighs Building an Island to Boost Oil-Exporting Capacity

Mar 19, 2018 | Khalid Al Ansary, Bloomberg
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OPEC’s second-biggest producer is ramping up efforts to expand capacity to pump and export oil, with plans that include the injection of seawater into crude deposits and the construction of export facilities on a man-made island in the Persian Gulf. Iraq is seeking bids from six companies for an estimated $4 billion project to inject seawater into its southern oil fields to dislodge more crude from the deposits, Ihsan Abdul Jabbar, the director-general of state-run Basra Oil Co., said in an interview. 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 barrels a day, he said, without identifying the bidders.