Iraq has decided to extend the contract for upgrading its Southern Basra oil refinery, a key project in the country’s ongoing refinery development efforts.
During a cabinet meeting in Baghdad on Tuesday, the government approved the extension of the consultancy contract for France’s Technip and Japan’s Unico. Additionally, the cabinet decided to increase funding for the project, though no specific details were disclosed in the official statement from the Iraqi Prime Minister’s office.
Iraq initially awarded the Basra refinery expansion contract to Technip and Unico in 2015, following a financing agreement with the Japan International Cooperation Agency (JICA). Officials stated last month that the project remains on track for completion in 2025, though Tuesday’s statement did not specify the duration of the contract extension.