In the week that the winning bidders for the Iraq oil and gas contracts are to be announced a Japanese newspaper has said that a Japanese consortium is set to win the US$10 billion the engineering, procurement and construction contract (EPC) contract to develop the huge Nassiriya oilfield in the country.
The Japanese consortium is led by the oil refiner Nippon Oil Corp and includes the oil exploration and developer Inpex Corp and the respected engineering contractor JGC Corp according to the news agency Reuters.
The EPC contract, unrelated to the services contracts being awarded this week by the Iraq oil ministry, will be the largest oil contract awarded by the Iraqi oil ministry since the fall of Saddam Hussein.
Iraqi oil minister Dr Hussain Al-Shahristani is quoted as saying a company has been selected and has been sent to the cabinet for approval.
The contract is said to include the construction of both refining and power-generating facilities will be supported by the Japanese government through the Japan Bank for International Cooperation.
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