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Iraq turns to US company to stop loss of 15 billion dollars a year
2019/07/16 06:33:03
A spokesman for the Ministry of Oil announced the signing on Wednesday on the memorandum of understanding on the investment of gas Arteawi in Basra in the south of the country between the South Gas companies and the US and the presence of the Deputy Prime Minister for Energy and Oil Minister.
The ministry spokesman Assem Jihad said that this memorandum, which later turns into a contract aimed at investing gas from 5 oil fields, comes within the plans of the ministry to invest gas associated with oil operations from the fields of Basra province, in order to maximize national production of dry gas, liquids and condensates, And preserving the environment.
Iraq annually burns about 12 billion cubic meters of natural gas associated with oil extraction operations in the south of the country, and cost more than $ 15 billion annually, according to oil experts.
The ministry spokesman Assem Jihad said that this memorandum, which later turns into a contract aimed at investing gas from 5 oil fields, comes within the plans of the ministry to invest gas associated with oil operations from the fields of Basra province, in order to maximize national production of dry gas, liquids and condensates, And preserving the environment.
Iraq annually burns about 12 billion cubic meters of natural gas associated with oil extraction operations in the south of the country, and cost more than $ 15 billion annually, according to oil experts.
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