Energy firm eyes Iraq business with Turks

Energy firm eyes Iraq business with Turks

ISTANBUL- Hürriyet Daily News

KBR, a Texas-based engineering and construction company, is seeking partnerships with Turkish firms to build refineries in oil- and gas-rich Iraq, according to its top executive.

The company, which has already undertaken engineering tasks at the Shah Deniz gas field, the largest in Azerbaijan, is interested in building refineries in Turkey or in Iraq by establishing partnerships with Turkish construction companies, group president Roy Oelking told the Hürriyet Daily News on the sidelines of an Istanbul meeting Nov. 14.

KBR is also having talks with Turkey’s Energy Ministry officials, Oelking said. “We need a good local Turkish partner.”

Turkey’s links with its war-torn, oil-rich neighbor could bring new opportunities for KBR, according to the executive.

“We are open to all scenarios,” said Oelking, adding that refineries could be built either in Turkey or Iraq.

The country has proven reserves of 115 billion barrels according to the Oil and Gas Journal.

KBR follows Chevron, British Petroleum

“We follow international oil companies Chevron and British Petroleum and once the oil and gas is discovered our task starts,” said Oelking, adding that his company is also aiming to operate in the Black Sea and eastern Mediterranean Sea to build offshore facilities.

The possibility finding rich reserves in both regions is significantly high according to him.