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Iraq: The most important associated gas investment projects, numbers revealed
Economy
1-02-2023, 22:30
INA - BAGHDAD
Ministry of Oil clarified on Wednesday, the most important gas investment projects implemented in Iraq, while revealing the current and targeted production numbers in the future.
"Gas investment is a complex industry that needs specialized international companies that use advanced technological tools, and Iraq has taken very important steps in this direction by contracting with solid companies," said the ministry spokesman Assim Jihad to the Iraqi News Agency - INA. He noted that
"Iraq established the Basra Gas Company with Shell and Mitsubishi to invest gas from 4 oil fields with plans targeting 2,000 million standard cubic meters per day, and has now reached the ability to invest 50% of this amount, which is equal to about 1,000 million cubic meters, which is a very important development."
"There is a second agreement with the Chinese company; PetroChina; to invest associated gas in the Halfaya field in Maysan. This will provide up to 300 million standard cubic meters per day.
We also had an agreement with the American Baker Hughes company to invest 200 million standard cubic meters from the Gharraf and Nasiriyah fields in Dhi Qar. These investments in total provide quantities.
In addition to that, an agreement will be included that will soon be implemented with the Total French company soon, and it is one of the fruits of the Prime Minister’s recent visit to France," explained Jihad. He stressed that
"the completion of the current projects in Maysan, Dhi Qar, and a large part of the projects in Basra, will mean the provision of large quantities of gas to cover the local need."
"These investments aim primarily at stopping the burning of gas, covering the local need for power stations, and stopping the damage to the environment as a result of burning it, as well as supporting the establishment of projects for petrochemical industries with great economic returns," he added.
Regarding the agreement with Total, he explained that
it “includes 4 paragraphs stipulating the transfer of sea water and its delivery to the oil fields at a rate of 5 million barrels per day, because the fields need large quantities of water to support the oil extraction process.
Secondly, the investment of about 600 million standard cubic meters of associated gas in two phases, the first lasting 4 years, the second for another four years, and
the third is a solar energy investment project that provides 1 gigawatt.
The fourth project is to raise the production of the Artawi field in Basra to 210,000 barrels per day."
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Economy
1-02-2023, 22:30
INA - BAGHDAD
Ministry of Oil clarified on Wednesday, the most important gas investment projects implemented in Iraq, while revealing the current and targeted production numbers in the future.
"Gas investment is a complex industry that needs specialized international companies that use advanced technological tools, and Iraq has taken very important steps in this direction by contracting with solid companies," said the ministry spokesman Assim Jihad to the Iraqi News Agency - INA. He noted that
"Iraq established the Basra Gas Company with Shell and Mitsubishi to invest gas from 4 oil fields with plans targeting 2,000 million standard cubic meters per day, and has now reached the ability to invest 50% of this amount, which is equal to about 1,000 million cubic meters, which is a very important development."
"There is a second agreement with the Chinese company; PetroChina; to invest associated gas in the Halfaya field in Maysan. This will provide up to 300 million standard cubic meters per day.
We also had an agreement with the American Baker Hughes company to invest 200 million standard cubic meters from the Gharraf and Nasiriyah fields in Dhi Qar. These investments in total provide quantities.
In addition to that, an agreement will be included that will soon be implemented with the Total French company soon, and it is one of the fruits of the Prime Minister’s recent visit to France," explained Jihad. He stressed that
"the completion of the current projects in Maysan, Dhi Qar, and a large part of the projects in Basra, will mean the provision of large quantities of gas to cover the local need."
"These investments aim primarily at stopping the burning of gas, covering the local need for power stations, and stopping the damage to the environment as a result of burning it, as well as supporting the establishment of projects for petrochemical industries with great economic returns," he added.
Regarding the agreement with Total, he explained that
it “includes 4 paragraphs stipulating the transfer of sea water and its delivery to the oil fields at a rate of 5 million barrels per day, because the fields need large quantities of water to support the oil extraction process.
Secondly, the investment of about 600 million standard cubic meters of associated gas in two phases, the first lasting 4 years, the second for another four years, and
the third is a solar energy investment project that provides 1 gigawatt.
The fourth project is to raise the production of the Artawi field in Basra to 210,000 barrels per day."
[You must be registered and logged in to see this link.]
