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Oil Minister of Basra: Iraq will depend entirely from the burning of associated gas in 2019
Thursday July 20, 2017 00:22
Oil Minister Jabbar Luaibi announced that Iraq will completely stop burning associated with the extraction of oil before the end of 2019 gas, and stressed that the gas investment will feed the Iraqi economy billions of dollars.
Allaibi said in an interview with a number of media in Basra, including Alsumaria News that " the oil industry in Iraq reached advanced stages, particularly gas projects, where we have achieved good results , " noting that "with the end of this year, the gas investment ratio will reach the threshold of 60 % of the total quantity that burns. "
The Minister of Oil that "during 2019, most likely at the end, there will not be any amount of gas burned, where we will invest the gas to achieve additional resources," adding that "gas investment projects that could supply the Iraqi economy billions of dollars, and we are serious in achieving this, and the exploitation of associated gas occupies our priority. "
The minister pointed out that " the ministry is working in parallel for gas investment and increase oil production , " explaining that "the end of this year, Iraq 's production of crude oil will reach five million barrels per day."
According to preliminary estimates of the Ministry of oil that Iraq has reserves estimated at 132 trillion cubic feet of gas, since about 70% of the Iraqi gas is a companion gas for the extraction of oil, the approximately 700 million cubic feet of it was burning and wasted because of the lack of infrastructure to deal with it . Iraq and solve the eleventh place among the world 's rich natural gas after Russia, Iran, Qatar, Saudi Arabia, UAE, America, Nigeria, Venezuela and Algeria.
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