On July 21, U.S. Consul General Piper Campbell, on behalf of the U.S. Trade and Development Agency, signed an agreement with the Director General of the South Refineries Company, Mr. Abdul Hussein Nasir Qasim, which grants $502,798 to the SRC to conduct a feasibility study for the rehabilitation of its Basrah refinery. This rehabilitation will allow the country to realize greater economic benefit from its oil reserves and will support the Iraqi Ministry of Oil’s goal to reach a capacity of 12 million barrels per day in production by 2020.
The South Refineries Company is in the process of undertaking a major modernization of its Basra refinery. As a part of this endeavor, this grant will fund an assessment of the refinery and will outline the necessary engineering, equipment supply and construction efforts required to substantially modernize the refinery’s operation.
During the ceremony, Consul General Piper Campbell reiterated the United States’ commitment to an enduring partnership, based on a mutual desire for friendship and cooperation with Iraq, on a broad range of shared interests. She noted that, under the Strategic Framework Agreement, this includes a commitment to help promote the development of Iraq’s oil sector and the rehabilitation of vital facilities. She said, “This grant agreement represents an important first step in modernizing the Basrah refinery and provides a concrete example of the U.S. Consulate General’s role in helping Basrah identify both public and private partnerships that ensure the economic future of Basrawis and all Iraqi citizens.”
The refinery rehabilitation feasibility study will occur over the course of the next year and builds on the 20 other collaborative training and exchange programs to encourage economic development that the U.S. Trade and Development Agency has supported in Iraq since 2004.