Iraq is set to award its first fully integrated energy project in Basra, combining upstream oil and gas production with downstream refining, petrochemicals, and power generation. The announcement was made by Bassem Abdul Karim, Director of Basra Oil Company (BOC).
Known as the Integrated South Basra Project, this initiative will focus on developing the Tuba oil field, utilizing associated gas, and establishing key infrastructure, including a refinery, a fertilizer plant, a petrochemical complex, and two power plants.
According to Abdul Karim, the project will be executed by an investor consortium under an agreement coordinated by the Ministry of Oil. In May 2024, the ministry signed a deal with a Chinese-Iraqi consortium—Geo-Jade and Hilal Al Basra (Crescent Basra)—to develop the Tuba oilfield, aiming for a production capacity of 200,000 barrels of oil per day and 50 million cubic feet of gas per day.
This project marks a significant step in Iraq’s efforts to enhance energy integration and maximize the value of its natural resources.