By John Lee.
The Council of Ministers has approved amendments to the Nasiriyah Field Expansion Project (100,000 barrels/day) managed by Dhi Qar Oil Company (DQOC).
The changes include adopting the EPC (Engineering, Procurement, and Construction) model instead of the EPCF (Engineering, Procurement, Construction and Financing Contract) contract and revising the project's total cost.
Funding-related provisions in Cabinet Decision No. 30 of 2021 have been cancelled, as the project is included in the 2024 investment budget. The Ministries of Planning and Finance have been directed to expedite financial releases for opening letters of credit from 2025 onward.
(Source: Media Office of the Prime Minister)
Comments are closed.