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Jacobs and Iraq Oil Co. sign MoU

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Hydrocarbon Engineering,

The Iraq Oil Co. and Jacobs have signed a Memorandum of Understanding (MoU) with a view to exploring the mutual benefits of cooperation and joint investment in upstream, downstream, refining and other sectors.

The companies hope that the MoU will facilitate socio-economic development in the Basra region of Iraq, where a high proportion of Iraq’s oil production occurs.

Commenting on the MoU, David Zelinski, Jacobs Petroleum and Chemicals Senior Vice President and General Manager for the Middle East, said: “Jacobs was selected as the single engineering partner to sign this strategic non-binding agreement. We will explore possibilities to deliver our services in support of the oil and gas, refining and petrochemicals sectors in Iraq, from our Saudi Arabian office – where we have had a presence for more than 40 years – as this aligns well with the Kingdom’s Vision 2030 to increase the export of services.”

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This article has been tagged under the following:

Downstream news Middle East downstream news Downstream contract news