economy Since 2017-07-13 at 14:32 (Baghdad time)
Baghdad Mawazine News
The Ministry of Oil announced on Thursday that it has signed a contract with General Electric to invest gas in the fields of Nasiriyah and Al Gharraf.
"The ministry signed with General Electric Company (Bakerhaus) to produce dry gas, condensates and liquid gas in the fields of Nasiriyah and Al Gharraf," Oil Minister Jabbar al-Luaibi told a news conference following the signing of the contract.
"The project represents a qualitative transition in the process of gas investment and will be implemented in two phases. The first involves the implementation of a gas drying and compression plant (70-100 million standard cubic feet per day), the second phase of the project and the construction of a new gas liquids plant with a capacity of 200 million standard cubic feet Daily".
He added that "the project will contribute to stopping the burning of gas in the fields of Nasiriyah and Gharaf as well as the provision of dry gas for use as fuel for power plants and reduce the use of heavy fuel in those stations, which helps to enhance the efficiency of electricity production and reduce environmental damage, The production of hundreds of thousands of tons of gas liquids annually in the form of LPG and condensate and export surplus to global markets that will return large revenues to the state treasury, as well as the production of liquid gas.
The Minister pointed out that "the Ministry of the implementation of its strategic plans to secure the financial revenues of the treasury of the Iraqi state and the development of the oil industry."
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