Iraq Approves Strategic Tank Farm and Industrial Island Project

The Iraqi Council of Ministers has authorized the Ministry of Oil / Basra Oil Company (BOC) to sign a non-binding Memorandum of Understanding (MoU) with Aurasyia Scope Group Oil & Gas UK LTD for a tank farm and industrial island project.

The project is considered strategically important for Iraq’s oil industry, aiming to:

• Strengthen Iraq’s presence in the Arabian Gulf’s regional waters.

• Support national economic growth.

• Increase financial revenues for the federal treasury.

Companies House, the registrar of companies in the United Kingdom, lists “Aurasyia Scop Group Oil & Gas UK Limited” as a company incorporated in March 2019, and involved in “activities of investment trusts.” Previous company names were: Aurasyia Scope Investments L.L.C Ltd, Aurasyia Scop Group Oil & Gas UK Limited, and Scop Oil & Gas (UK) Limited.

Aurasyia Scop Group Oil & Gas UK Limited filed accounts as a dormant company for the year to the end of March 2024, showing just £100 in debtors and shareholders’ funds. Current directors are listed as:

• Amir Ahmed, Company Secretary, who owns 5 shares;

• Hayder Abdulshaheed Hasan Al-Saedi, an English-resident Iraq, who also owns 80 shares; and,

• Adnan Hussain Shal, an English-resident Iraq, who also 15 shares.

(Sources: PMO, Companies House)