Latest news with #GeoJade
Zawya
21-05-2025
- Business
- Zawya
China's Geo-Jade wins major oil, power deal in Iraq
Iraq on Wednesday signed a major contract with China's Geo-Jade company to develop an oilfield and build a large refinery, a petrochemical complex and power complex. Oil Minister Hayan Abdel Ghani signed the deal with the Chinese company and its project partner Hilal Al Basra (Crescent Basra). The official Iraqi News Agency said the projects are based in the Southern oil hub of Basra. 'These projects with Geo-Jade represent a big leap in the development of Iraq's oil wealth and supporting of the national economy,' Abdel Ghani said. The contract includes the development of Tuba oilfield in Basra to expand its output to 200,000 barrels per day (bpd), as well as the construction of an oil refinery with a capacity of 200,000 bpd, a petrochemical plant with a production capacity of 620,000 tonnes per year, a 520,000 tonne fertilisers plant and two power stations, including a 400 megawatts (MW) solar power plant and a 650 MW gas-fuelled power plant. (Writing by Nadim Kawach; Editing by Anoop Menon) (
The National
21-05-2025
- Business
- The National
Iraq signs deal for South Basra integrated energy project to boost oil and power supply
Iraq's Oil Ministry signed an agreement on Wednesday for a fully integrated energy project in the southern province of Basra, which will combine upstream oil and gas production with downstream refining, petrochemicals and power generation. The agreement is with a consortium that includes Chinese company Geo-Jade and Hilal Al Basra (Crescent Basra), Iraq's Oil Minister Hayan Abdel Ghani said at the signing ceremony in Baghdad. The South Basra Integrated Project includes expanding the Tuba oilfield, raising production from 20,000 barrels per day to 100,000 bpd, Mr Abdel Ghani said. A refinery with a capacity of 200,000 bpd will be built along with a petrochemical plant with a capacity of 620,000 tonnes a year and a fertiliser plant with a capacity of 520,000 tonnes a year, he added. Two power plants – including a 650 megawatt thermal power plant and a 400MW solar power plant – will also be part of the project, he said.
