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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    CHINESE, AMERICAN AND FRENCH COMPANIES ENTER THE FIELD OF GAS INVESTMENT IN 3 IRAQI GOVERNORATES

    Rocky
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    CHINESE, AMERICAN AND FRENCH COMPANIES ENTER THE FIELD OF GAS INVESTMENT IN 3 IRAQI GOVERNORATES Empty CHINESE, AMERICAN AND FRENCH COMPANIES ENTER THE FIELD OF GAS INVESTMENT IN 3 IRAQI GOVERNORATES

    Post by Rocky Wed 09 Jun 2021, 2:23 pm

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    Economie

    [size=38]CHINESE, AMERICAN AND FRENCH COMPANIES ENTER THE FIELD OF GAS INVESTMENT IN 3 IRAQI GOVERNORATES[/size]

    Wed, Jun 9, 2021 5:46 PM




    Today, Wednesday, the Ministry of Oil revealed plans to invest gas in three provinces by Chinese, American and French companies, while determining Iraq's daily need for gas, noting that there are talks with Saudi Arabia to introduce its energy companies into the country.
    The ministry's spokesman, Assem Jihad, told the official agency, and the "National News Center" followed him, that "Iraq invests in gas by 50-60%, with the investment volume reaching 1500 million standard cubic meters per day, which supplies electric power stations with that," noting that “The other stations are supplied with millions of meters of fuel, which includes black and Caswell crude oil, and the stations consume about 250 thousand barrels, and therefore the quantity is large.”
    He added, "The ministry has drawn up plans and agreed with a Chinese company to invest all the gas in the Maysan Governorate, and it has also been agreed with the Baker Hughes Company, one of the arms of the American company GI, to invest all the gas in the Dhi Qar Governorate, and there are understandings with the French company Total to invest the rest." of gas in Basra Governorate.
    He stressed that "Iraq's need of gas reaches 3 thousand million standard cubic meters per day, as energy increases with the relative growth of the population and the annual consumption rate, and thus constitutes 50%," noting that "what is imported is 750 million standard cubic feet of Iran".
    He added that "after 2003, Iraq invested the gas that was burning at a value of 700 million standard cubic feet, and now the investment has reached 1500 million standard cubic feet, and this means that the investment has doubled," explaining that "the proportion of associated gas is related to the increase in production and the more it increases." The burning process increases production and therefore needs to expand investment in projects.”
    And Jihad indicated that "the gas industry needs advanced technology and contracting with international companies," noting that "international companies or global investment needs several factors in order to exist in Iraq, including security and political stability."
    He stated that “political statements may prevent companies from being present in Iraq, and therefore we need the cooperation of all parties to attract investments to provide a safe and not anxious environment because it will lead to the reluctance of investors, especially international companies,” adding that “in all the world there are companies to invest gas and therefore need to allocate funds. It is very big, and we are trying to attract international companies to enter into gas investment, as happened with Total, with whom we reached a preliminary agreement to invest the rest of the gas and also in the field of clean energy.”
    Jihad pointed out that "the Ministry of Oil took the initiative in cooperation with the Ministry of Electricity to attract international companies to invest in clean energy, such as solar or alternative energy," noting that "among the plans of the government and the ministry is an investment of up to 10,000 megawatts over the coming years, as some contracts were referred to companies and thus The government is moving in that direction.”
    The ministry's spokesman stated that "the free gas present in the ground, such as crutches and Mansouriya, was presented in the licensing rounds and was won by international companies, as the crutch gas was won by the Korean Kokaz Company, and the Mansouriya gas was won by a coalition of Turkish companies and the Kuwaiti Kuwait Energy Company, but that These companies failed due to the security situation after the entry of ISIS in 2014, which prevented them from implementing their plans.”
    He stressed that "after the security stability, the ministry is trying to negotiate with international companies to invest free gas, but we need security and political stability factors in those areas, as we have succeeded in referring the Mansouriya field to the Chinese company, and it is hoped that the peak plan will reach 300 million cubic feet per day." He explained that "the Mansouriya contract was referred to the Council of Ministers for approval."
    Jihad indicated that "the ministry is seeking to invest gas in the crutch by negotiating with several companies," noting that "the Oil Ministry had discussions today within the television circuit with Saudi Arabia, and the Saudi side expressed its desire to enter into several projects in the field of gas and petrochemical investment and to engage with other companies to develop The crutch field and also on the topic of the Nibras project for the petrochemical industry and in the field of general energy.”
    He explained that "the Basra Gas Company, which was established for the purpose of investing gas from four fields, production reached between 900 and 1,000 million standard cubic feet per day, but the plan includes that its production would reach 2,000 million standard cubic feet, because there was a cornerstone and the implementation of stations and others," stressing that “The invested energy has reached 1500 million standard cubic feet, and this is not a small amount, as foreign companies operating in Iraq to develop oil fields rely on themselves to generate electric power and the surplus from it to supplement the national energy system.”
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