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Buried wealth”... The discovery of gas in Iraq is a glimmer of hope for developing the economy
September 2, 2024
An employee turns a valve at the Nahr Bin Omar natural gas field, north of the southern Iraqi port of Basra on April 21, 2020.
(Photo by Hussein FALEH / AFP) (Photo by HUSSEIN FALEH/AFP via Getty Images)
Baghdad/Iraq Observer
Noticeable progress has been achieved by Iraq during the recent period in the energy sector, especially in the field of natural gas discovery, as
these discoveries represent an important strategic step towards achieving energy security and strengthening the economy in general, and
they also open new horizons for investment and development in this vital sector.
In recent years, oil companies and the Iraqi government have announced new discoveries of gas patches in several regions.
Among these discoveries, the Anbar region stands out as a major location where important gas reservoirs have been discovered.
According to industrial sources, the new discoveries include large quantities of dry gas, which is a type of natural gas that contains low levels of sulfur and is used in many industrial applications.
This type of gas is used in power generation, as industrial fuel, and in the production of chemicals. Which makes it an important resource for the industrial and energy sectors.
The Iraqi government is working to enhance the investment of these discoveries through partnerships with international energy companies.
Agreements have been signed with multinational companies to develop the infrastructure necessary for gas extraction and purification.
It has also been agreed to implement projects to extend gas pipelines and modernize refining stations.
Building infrastructure is an important step, as extracting natural gas and delivering it to markets requires complex equipment, including pipelines, refining facilities, and pumping stations.
These projects require huge investments and careful coordination between the various parties involved, and
the government is working to improve the legal environment to attract foreign investments, including improving contract terms and simplifying bureaucratic procedures.
Despite the optimism that accompanies new gas discoveries, there are a number of challenges facing the exploration and production process.
These challenges include the need for modern technology and technical expertise, in addition to the difficult geographical conditions that may affect drilling and transportation operations.
Great economic opportunities
On the other hand, the development of the natural gas sector in Iraq opens the way for great economic opportunities.
In addition to improving energy security, this sector can contribute to creating new job opportunities, increasing national revenues, enhancing economic growth, and exporting gas to international markets. It can provide an important source of financial returns.
In a statement by retired expert in the field of gas, Dr. Sami Al-Jubouri, who held a position in major energy companies, he said:
“The discovery of new gas patches in Iraq represents an important strategic opportunity for the country as it provides a strong basis for developing the energy sector and enhancing economic independence.
However, It is necessary to focus on improving infrastructure and applying the latest technologies to ensure efficient and safe extraction of gas, through cooperation with international companies, which will enhance Iraq’s ability to exploit these resources optimally.” Dr. Al-Jubouri added to the Iraq Observer Agency,
“The challenges facing the country include the need to develop local technical capabilities and increase operational efficiency, as well as manage resources sustainably to ensure long-term benefits.”
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September 2, 2024
An employee turns a valve at the Nahr Bin Omar natural gas field, north of the southern Iraqi port of Basra on April 21, 2020.
(Photo by Hussein FALEH / AFP) (Photo by HUSSEIN FALEH/AFP via Getty Images)
Baghdad/Iraq Observer
Noticeable progress has been achieved by Iraq during the recent period in the energy sector, especially in the field of natural gas discovery, as
these discoveries represent an important strategic step towards achieving energy security and strengthening the economy in general, and
they also open new horizons for investment and development in this vital sector.
In recent years, oil companies and the Iraqi government have announced new discoveries of gas patches in several regions.
Among these discoveries, the Anbar region stands out as a major location where important gas reservoirs have been discovered.
According to industrial sources, the new discoveries include large quantities of dry gas, which is a type of natural gas that contains low levels of sulfur and is used in many industrial applications.
This type of gas is used in power generation, as industrial fuel, and in the production of chemicals. Which makes it an important resource for the industrial and energy sectors.
The Iraqi government is working to enhance the investment of these discoveries through partnerships with international energy companies.
Agreements have been signed with multinational companies to develop the infrastructure necessary for gas extraction and purification.
It has also been agreed to implement projects to extend gas pipelines and modernize refining stations.
Building infrastructure is an important step, as extracting natural gas and delivering it to markets requires complex equipment, including pipelines, refining facilities, and pumping stations.
These projects require huge investments and careful coordination between the various parties involved, and
the government is working to improve the legal environment to attract foreign investments, including improving contract terms and simplifying bureaucratic procedures.
Despite the optimism that accompanies new gas discoveries, there are a number of challenges facing the exploration and production process.
These challenges include the need for modern technology and technical expertise, in addition to the difficult geographical conditions that may affect drilling and transportation operations.
Great economic opportunities
On the other hand, the development of the natural gas sector in Iraq opens the way for great economic opportunities.
In addition to improving energy security, this sector can contribute to creating new job opportunities, increasing national revenues, enhancing economic growth, and exporting gas to international markets. It can provide an important source of financial returns.
In a statement by retired expert in the field of gas, Dr. Sami Al-Jubouri, who held a position in major energy companies, he said:
“The discovery of new gas patches in Iraq represents an important strategic opportunity for the country as it provides a strong basis for developing the energy sector and enhancing economic independence.
However, It is necessary to focus on improving infrastructure and applying the latest technologies to ensure efficient and safe extraction of gas, through cooperation with international companies, which will enhance Iraq’s ability to exploit these resources optimally.” Dr. Al-Jubouri added to the Iraq Observer Agency,
“The challenges facing the country include the need to develop local technical capabilities and increase operational efficiency, as well as manage resources sustainably to ensure long-term benefits.”
[You must be registered and logged in to see this link.]
