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Vice President Cherkhhl: Maihriq of Algasalaraca Yumiajkova to Sdhajhmleonin and a half million consumers
On: Sat 1/21/2012 6:55
□ Baghdad / follow-up term
, said Shell Vice President for the Middle East and North Africa Mounir Bouaziz said that Iraq is losing approximately $ 80 per second, or about seven million dollars a day, as a result of combustion of gas associated with crude oil extraction in the air.
He said in an extended dialogue with the "talk" that Shell has in collaboration with Mitsubishi invest 300 thousand Mqmq (million standard cubic feet) of gas per day from the total one million Mqmq burning atmosphere every day.
and a gas signed between the Iraqi government, Shell, Mitsubishi and the evolution of work in the Majnoon field oil, which invests in the development of Shell, among other things, he spoke Bouaziz, through dialogue, the following:
* Talk: What is the size of the loss of Iraq daily from the burning of associated gas to extract oil in the air now?
- Bo Aziz: Iraq is losing nearly $ 80 in the second, any about seven million dollars per day, as a result of combustion of gas associated with extraction of crude oil in the air.
Currently, there are about 700 thousand Mqmq of gas associated with the extraction of oil burned every day in the air and this amount is sufficient for the needs of 2.5 million consumers, and will increase this amount with the start of oil companies exploiting the oil fields discovered and developed that were put in the first licensing round to raise production and will reach more than two million Mqmq per day.
* Talk: After you signed investment contract associated gas in southern Iraq with the Iraqi government, what are the steps you make to end gas flaring associated in the air?
- Bouaziz: the first achievement made by Shell in cooperation with Mitsubishi invest 300 thousand Mqmq (million standard cubic feet) of gas per day, of the total one million Mqmq burning atmosphere every day, and will work period coming to invest 700 thousand Mqmq remaining to end the combustion gas associated with oil extraction. The second achievement is to open the navigation of the Shatt al-Arab trade for the first time after 30 years, to facilitate the delivery of heavy equipment. We have built the port of a small on the Shatt al-Arab cost millions of dollars, and last week received a shipment of equipment across the Shatt al-Arab to this port.
* Talk: When will the end the burning of associated gas in the atmosphere and its investment in full?
- Bouaziz: Currently the technical programs destined for the investment of all the associated gas which burns the atmosphere, which amounts to 700 thousand Mqmq day, but this gas in the case of treatment needs to be facilities for export and internal use, and this takes time, as well as the quantity of gas that burns will double in the future due to rising oil production contracts the first licensing round, so we need time to nor can we identify, but eventually after a doubling of gas associated with the extraction of oil will reach the amount of gas investor to two million Mqmq.
* Talk: What is the benefit derived by Iraq from the investment of associated gas to extract oil, which burns in the air now?
- Bouaziz: The contract will double the production Iraq's gas more than twice as well that the project includes spending about $ 13 billion on the rehabilitation of infrastructure or structures anchor new project will require the expenditure of $ 4.4 billion in additional build the facility of LPG as well as the gas investor will cover the local need and end the deficit in energy electric power. I expect that the net income of the Iraqi treasury $ 30 billion, of this project which covers three fields south is the Zubair and West Qurna 1, Rumaila for 25 years.
* Talk: What is the size of investment in this project and what is the share of the South Oil Company and both Shell and Mitsubishi?
- Bouaziz: The total investment value of nearly $ 17 billion contributing to the Southern Oil Company in which an estimated five billion dollars and contribute to both Shell and Mitsubishi about seven billion dollars to finance the remainder of the income of the project and have the Iraqi side, 51 percent of the shares, Shell 44 percent, and Mitsubishi 5 percent.
* Talk: Will there be any associated gas investor out of Iraq or will be used to meet the local need?
- Bouaziz: According to the terms agreed, the gas, which burns now be sold to the Iraqi side to meet domestic demand first and in excess of local need will be exported. Recently signed and the Iraqi Oil Ministry held consultation from one of the world to build an oil pipeline and gas pipeline parallel through Syria or Turkey to the Mediterranean and then to Europe.
* Talk: On a related What are your accomplishments in the Majnoon oil field?
- Bo Aziz: the project progress. Heavy equipment started up the plant and now we started drilling new wells have been drilled two wells and is still progress underway, and work is continuing, in the Majnoon field, we do not have a specific date to date of increasing production, but very soon.
* Talk: withdrew Shell of Syria and stopped working the final, you will in the company's projects in Iraq?
- Bo Aziz: what happened in Syria was based on the decision and sanctions by the EU and we as a European we are committed to the resolution of that stop us from working in Syria, and withdrew from the partnership has ended any action from our side in this country, But this will not affect our investment in Iraq does not negatively or positively.
* Talk: date nears licensing round, the fourth of the patches exploratory announced by the Ministry of Oil Can will paralyze them?
- Bouaziz: We are waiting for the contract standard and the ministry has not yet completed the drafting of the contract, The company will consider the matter and determined that you participate in the round or not It's still early.
for "Talk Weekly"
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