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Iraq hopes to increase the proportion of gas investment by $ 1.5 billion.
Thursday, 22 November / 1 December 2011 08:35
{Baghdad} Euphrates News said an oil expert working in the Oil Ministry said Iraq hopes to increase the proportion of investment in natural gas licensing round following a $ 1.5 billion for the month of March.
The expert said the oil ministry spokesman al-Bayati, in a press statement received by {Euphrates News} a copy of it on Thursday that "Iraq can come to the market by the year 2015, and Iraq has gas reserves at 130 trillion cubic feet, and eighty percent of this figure represents the gas companion with crude oil. "
He added that "Iraq has the fifth largest gas reserves in the Middle East, according to statistics in 2010, according to company BP, while the government adopted in most of its revenue on sales of crude oil and it wants to produce gas as fuel for power plants, others are able to meet domestic demand, and the gas is a product for which viable for export. "
And al-Bayati said that "Iraq is expected to increase production to 30 trillion cubic feet in reserves is expected for the next ten years is also expected to detect approximately 100-300 trillion cubic feet, which 80 percent of it is non-associated gas."
The statement said that "Iraq has signed 15 agreements in the field of oil exploration since the U.S. occupation and the fall of Saddam Hussein in March 2003". / End. M
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