Petrojet company was chosen on Friday to implement the first gas-processing plant for Iraq's Siba oilfield, operated by Kuwait Energy.

"The 1.4 billion pound project aims at preparing the oilfield to increase its production to 110 cubic feet of gas per day," Petrojet Chairman Mohamed Shimy said in a report to Petroleum Minister Sherif Ismail.

The establishment of the project will take 18 months. It will achieve investments worth about 350 million dollars.