Sunday April 5, 2015
Alsumaria News / Baghdad
The Oil Ministry announced on Sunday, has signed a memorandum of understanding with the French company Total's biggest petrochemical project in the creation of Iraq .
The ministry said in a statement received Alsumaria News copy of it, "Oil Minister Adel Abdul-Mahdi , signed today a memorandum of understanding to create the largest petrochemical project in Iraq. "
The ministry said the "signature has been with the French company Total."
The French company Total, which was founded in 1924 and is one of the six largest oil companies in the world is based in Paris , and won the company Total with Chinese CNBC company, and Malaysia's Petronas, to develop oil Halfaya field in the second licensing round, which submitted a bid of one dollar and 40 cents on each barrels of oil, and the production of 535 thousand barrels per day.
Signed at the Ministry of Industry (January 28, 2015) signed a contract with Shell International at a cost of $ 11 billion to set up a petrochemical complex in Basra.
It is noteworthy that Iraq has a petrochemical plant in Basra, which was built by foreign companies in 1976, and is one of the largest state-owned factories in the province of Basra, the plant has stopped working after the events of 2003.
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