Iraq floating portby Liton, Saipem
- Basra, Iraq
The port is one of four floating ports being constructed opposite Basra in the Fao area to handle expected increases in oil output. In 2010, the Iraqi government signed a contract with Liton, an Australian company and Saipem, an Italian company, to build the floating ports at a cost of $1 billion. "The two companies, in collaboration with national technical staff, finished work on one of the ports. It will be trial-tested on January 25th so that it can go into actual service by the beginning of February," said Ahmad al-Shamaa, deputy secretary at the Ministry of Oil. "As for the other ports, work on one of them is already over 75% completed, and we expect to start using it during the second half of this year. The third and fourth ports will be inaugurated before the end of next year," he told Mawtani. The project includes the construction of 16 storage tanks on the coastline in the Fao district and laying three 48-inch pipelines over 60 kilometres under the sea to carry crude oil from storage tanks to the ports. The export capacity of each port is projected at 900,000 barrels a day, and if the four ports become functional and operate simultaneously, Iraq's export capacity through the Arab Gulf will increase from the current output of 1.8 million barrels per day to 5.4 million barrels per day.