Iraq signs US$6 billion oil refinery deal with Satarem

refinery iraq-zandura577 sxc.huSatarem will construct and operate a 150,000 bpd refinery in Maysan. (Image source: Zandura557/sxc.hu)Iraq has signed a US$6bn contract with Satarem to build and run an oil refinery in the country

According to Associated Press, the project calls for the Swiss company to construct and operate a 150,000 bpd refinery in the southern province of Maysan, bordering Iran.

Iraq reportedly has the world’s fourth largest proven reserves of conventional crude, with approximately 143.1bn barrels.

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