ZUG, Switzerland, June 3 (UPI) -- Equipment supplier Foster Wheeler said it won a contract from the Iraqi Oil Ministry to conduct a feasibility study for a refinery in southern Iraq.
The Iraqi Oil Ministry awarded the contract for an oil refinery in Nasiriyah that it estimates could produce as much as 300,000 barrels of oil per day.
Foster Wheeler under the terms of the contract will examine the feasibility of the project and provide a front-end engineering design package to the Iraqi Oil Ministry.
"This award reflects our position as a leading refining contractor," said Umberto della Sala, president and chief operating officer at Foster Wheeler.
Iraq is pushing ahead with oil development. Contracts awarded in December gave Baghdad the confidence to say it could rival Saudi Arabia in terms of oil production.
The Swiss engineering company did not disclose the value of the contract.
