An Iraqi company established on (13-Mar-2007), to
perform refining and distribution of oil products. It has a group of executed
projects and some under construction projects; the following is a summary of
Projects of the company: (Projects Implemented)
Shwan Factory for production of Oxidize Asphalt:
The plant was established based on the approval of
Industrial Development Manager at Ministry of Industry and Minerals.
Purpose of the project: production of oxidize asphalt
Operational capacity of the plant: 1100 Ton/day.
Feeder: Black Oil (RCR) from Kirkuk Refinery
Cost: 45,000,000 USD
Plant establishment started on 2010, the experimental
operation started on October 1st 2011, and the commercial operation
started on December 1st 2011.
Light gas oil
Heavy gas oil
Al-Barham Storage Tanks:
The storage tanks were established based on approval of
Ministry of Oil
Purpose of the project: storage and distribution of
Capacity of the storage tanks: 30,000 m3,
divided on 6 storage tanks, each tank is 5,000 m3 capacities.
Oil derivatives: Benzene, kerosene, oil gas and fuel
Cost: 18,000,000 USD.
The storage tanks include a modern fuel station.
(Projects under construction)
Reformulated Benzene compound project:
Contract has been made with Ministry of Oil to
establish an integrated compound to produce Benzene meets with European
Purpose of the project: produce formulated Benzene
according to European specifications.
Operational capacity of the compound: 12,000 barrels
from Kirkuk Refinery, natural Gasoline from Al-Shimal Gas Company.
Phases of the project: a piece of land has been
allocated for the project by 150 donum.
Completion of soil tests
Completion of the technical and economic feasibility
study by UNIS Czech company.
Completion of environmental impact study
Black Gold Company project for production of Oxidize Asphalt:
Approval has been obtained from Ministry of Mineral
Resources of Kurdistan Regional Government to establish a company for
production of Oxidize Asphalt.
Purpose of the project: production of Oxidize Asphalt
Location: Suleimanyah, Bazyan.
Operational capacity of the project: 1500 Tons per
Feeder: Black Oil (RCR) from Region’s Refineries.
Phases of the project
A piece of land with area of 74 donum has been
purchased for the project
Completion of the technical and economic study of the
Establishment of Crude Oil Refinery project
Establishment of crude oil refinery with capacity of
100,000 barrel per day at Kirkuk province; and another refinery with the same
capacity at Bassra province, both projects are currently under research.
The financial system of the company:
Al-Barham Group consists of several companies and
projects; each company under the organizational chart of the group has its own
finance department consisting of (finance manager, accountant, auditor and
cashier), all finance departments of the companies are linked with the General
Finance and work is arranged according to the Standardized Iraqi Accounting
System in which it performs all the accounting issues including inserts, posting,
balancing, auditing, submission of monthly, quarterly and annual reports and
review of the accounts at end of the financial year by a legal credited
accountant who will issue final accounts of the ended year in both Arabic and
The finance department depends on (Al-Ameen) software
accounting and stores in inserting the records.
The finance department shall arrange planning budget
for the whole year upon getting formal approvals which will be used, provided
that it shall not exceed the maximum limit, additionally all the incomes and
expenses will not be paid, only upon valid approvals according to the interior
rules of the company.
The finance department has its own policies and
procedures according to the recognized accounting systems.
All the accounts of Al-Barham Group shall be converted
from the Iraqi unified accounting system to a system matching with
international standards, after they are audited by a specialized international
company, and now we have contracted with PWC Company in order to audit the
accounts according to the international standards.
The auditing system of the company:
The auditing system depends on a series of controls
and auditing procedures which are approved by the general management of the
company related to auditing on expenses, production, loans, operations, agents,
financial statements, salaries, assets, procurement management, HR software and
control of contracts in addition to control on restrictions on accounting
standards for all the companies, auditing the financial statements in which the
management and board of directors depend on it, control on execution of
approved procedures and policies by the board of directors (the executive body)
correctly, and submission of regular reports to administration.