By John Lee.
Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi] has officially launched the new Dhi Qar Oil Company (DQOC) [Thi-Qar Oil Company].
At a ceremony in Nasiriya, the Minister said he is working to develop the Nasiriya oil field and the other exploratory blocks and fields in the region, and called on international companies to invest in the new Nasiriya refinery project.
The DQOC was spun off from the South Oil Company (SOC) last year, and has responsibility for Garraf and Nasiriyah oil fields; following the transfer of assets to the DQOC, the SOC has become the Basra Oil Company (BOC).
The Iraqi Ministry of Finance approved a start-up capital of $42 million for the new company.
(Source: Ministry of Oil)