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Oil Company launches the first project financed by carbon bonds
The first 10/24/2023
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Baghdad: Al-Sabah,
Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul-Ghani, announced yesterday, Monday, the launch of the first project financed by carbon bonds with a capacity of (12 MQM) in a field east of Baghdad.
Abdul Ghani said, during a specialized technical workshop entitled “Carbon Bonds” organized by the Ministry’s Training and Development Department, that the launch of the first direct call for a carbon reduction project by investing in Flair gas in a field east of Baghdad represents the beginning of a package of projects planned by the Ministry of Oil. It is financed by carbon bonds, indicating that the launch of the first project financed by carbon bonds with a capacity of (12 mqmq) in a field east of Baghdad is a step towards implementing the commitments of Iraq and the ministry to reduce emissions and preserve the environment.
He pointed out that the Ministry is working to enhance its balance of carbon bonds through optimal investment of associated gas and reducing the rate of gas burning in all oil fields.
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