Iraq's Ministry of Oil on Tuesday extended the bidding deadline for investors interested in building an oil refinery in Kut, Wasit province southeast of Baghdad.
The refinery will have a capacity of 100,000 barrels of oil per day, according to a statement on the ministry's website.
Interested investors can submit their bids up to Oct. 4.
Iraq is also seeking investors to build another refinery in Diwaniya, south of Baghdad with a daily capacity of 70 thousand barrels. The deadline to submit offers is July 31, the ministry announced on May 15.
Both projects will be developed on a build-own-operate (BOO) or build-operate-transfer (BOOT) model, and will be exempt from taxes.
The process is part of Iraq’s bid to become self-sufficient in oil products. The country is OPEC’s second largest crude oil producer after Saudi Arabia.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr