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Challenges in Financing Energy and Oil & Gas Projects in Iraq. By Dr. Ihsan Al-Attar *


Type of Projects

Oil and Gas projects as part of the energy projects in Iraq fall within the three standard categories generally known in the international oil industry as upstream, midstream and downstream type of projects. These include but are not limited to:

 ·       Drilling oil and gas wells

·       Laying flow lines trunk lines and distribution lines;

·       Building degassing stations facilities.

·       Building tank farms and storage depots.

·       Constructing refineries and gas plants

·       Building onshore and offshore loading platforms.

·       Building all infrastructure needed for such projects.

 The Iraqi Ministry of Oil is the central government entity entrusted with the total implementation of such projects, and two modes (Insourcing & Outsourcing) of implementation were normally employed which were largely dependent on allocations specified in the “Annual National Budget” based on pre-determined cost estimates by the Ministry’s specialized offices as follows:

·       Insourcing:       Using the Ministry’s own resources through direct execution.

·       Outsourcing:   Awarding to local and international contractors and suppliers.

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Challenges in Financing Energy and Oil-final formating

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