Three Options were discussed regarding the size and number of tanks and their capacities and we chose the 24 Tank & Auxiliaries option to make the project financially viable and profitable.

The purpose and target of this strategic project are to help increase the daily storage and export in a way to serve the national economy of Iraq and fulfills the targets and expectations of BOC and The Iraqi Ministry of Oil.

Building an Oil Tank Farm and Offshore Loading Terminals with a capacity of 2,280,000 cubic meters (equivalent to 14, 364,000 Barrels) with the ability to load 2,500,000 to 3,000,000 Barrels per day from the Offshore Loading Terminal built on the artificial island of 90,000 square meters.

 The Artificial Island will be built at a 45 km distance from the mainland in the Arabian Gulf within the commercial territorial maritime borders of Iraq to secure 2 – 4  loading terminals that can take 2-4 large-size tankers (Capacity 1,000,000 – 3,000,000 Barrels) with a depth of 21-35meters which can accommodate large tankers.

The Onshore Tank Farm is connected to the Island and loading Terminals with three pipelines 2 x 48” for Crude Oil, and 1 x 42” Utility Pipe for Power Cables, Fiber Optic Tele-Communications Cables.

This requires direct collaboration between all Iraqi affiliated authorities including BOC, IOM, Iraqi Ports Company, Customs, and in general all related authorities Iraqi regulations deem necessary.

The Project Time Frame is estimated to be built and become operational within 36 months from starting of construction. We need to take into consideration an additional 6-8 months for designs and approvals.

Our Financial Cost Estimates are between 3.5– 4 Billion US Dollars which will be covered through AURASIYA and AVIC.

AURASYIA will Build, Operate, Train, and Transfer (BOTT) the facility to BOC after 15 – 20  Years, that is to earn back the Initial Costs, Working Capital (Running Costs), and Expected Profits.

AURASYIA is willing to negotiate Additional Options to the project to include a 140,000 Barrels per Day Refinery and Natural Gas Tank Farm at a later stage and according to the needs of IOM & BOC.

AURASYIA shall be exempted from all Taxes according to the Iraqi Investment Law. 

AURASYIA and all its Affiliates, Partners, and Associates should be allowed to re-transfer their money out of Iraq according to the Regulations and Rules of the Iraqi Investment Commission.