Details of the memorandum of understanding signed between Iraq and Honeywell of America
Economy News – Baghdad
The Ministry of Oil explained today, Monday, the details of the memorandum of understanding signed with the American company Honeywell for the development of refineries, and while referring to the Prime Minister’s guidance to prepare a study to establish a pipeline network adjacent to the development path, it revealed projects that will soon enter service for raising refining capacity.
“There is a memorandum of understanding signed by the Minister of Oil under the auspices of the Prime Minister with the Prime Minister with Honeywell, one of the large specialized companies with extensive business in all activities,” said Hamid Al-Zoubaie, referring to “a workshop with the company on the activities of refinery activity.”
Al-Zubei explained that “the memorandum signed aims to develop projects for the development of refineries and meet what was directed by the Prime Minister on the arrival of liquidation capacity to 40 percent of the production capacities of crude oil,” noting that “the increase in refinery capacities to 40 percent will add value to the crude oil produced and lead to raising financial returns and thus be supportive of the national economy.”
He pointed out that “7 projects were discussed with regard to refineries and a capacity of 70 thousand barrels for each project in the governorates of Maysan, Dhi Qar, Muthanna and Najaf, as well as the third unit in the refineries of Al-Dura, Hadith and Al-Qayyarah.”
He pointed out that “the ministry’s plan was presented and discussed extensively with Honeywell through the workshop, and it is hoped that a full vision will be provided by the company on the process of developing the refineries with the capabilities offered within the next two weeks.”
He added, “Honeywell, is known for its expertise and technical and technological capabilities and is important for gaining and transferring expertise for national landers and facility development,” stressing that “after completing the preparation of projects, the implementation mechanism and the time periods for their completion will be determined.”
He noted that “the Prime Minister paid great attention to the liquidation sector through the development and raising the capabilities of refineries for its great economic importance,” noting that “great achievements have been made in the liquidation sector during the last short period represented in the completion of the fourth unit in the South Refinery, which added 70,000 barrels refining capacities, as well as the unit of the elimb in the same southern refineries, which will be opened very soon, where it added about 1200 cubic meters of high-octane gasoline, as well as the completion of the Azmra unit in the Dura refinery and the rehabilitation of the North refinery in a record time, which added a refining capacity of about 150 thousand barrels.”
He continued: “Over the next few days, the LCR unit in the North Refinery will enter service and will add up to 3,000,000 liters of high-octane gasoline, as well as the CCRU in the North refinery has also been operational,” stressing that “all these projects have been completed in very short periods.”
He continued, “The upcoming projects, which will enter service soon, will be a contributing factor in raising refining capacities and filling the local consumer need for some products, including the FCC unit in the southern refineries, as it is hoped that they will be completed in the first half of next year, as they will add a production of high-octene gasoline by 4,000 cubic meters to 4,000,000 cubic liters, as well as we have projects of refinery energy addition in a modern refinery, during the current quarter of this year, by adding 20,000 barrels.”
He pointed out that “the Prime Minister directed the Ministry of Oil to prepare a study that includes the establishment of a pipeline network adjacent to the development path that meets all the future strategic plans of the Ministry of Oil from the fields to the transport process, in order to facilitate the process of transporting crude oil and gas between the north and the south as well as export ports.”
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