Specialists: The Ministry of Oil's investment in projects in a real way opens up broad horizons for

[size=52]Specialists: The Ministry of Oil's investment in projects in a real way opens up broad horizons for the economy[/size]

[size=45]Baghdad / Hussein Hatem[/size]
[size=45]Specialists in economic affairs believe that if the Oil Ministry invested its projects in a real way, it would contribute to reducing the burden on the rest of the investment windows, in addition to the possibility of retaining the return that is generated through these investments. Last Monday, the Ministry of Oil approved the major investment plan for the Basra Gas Company, while indicating that the investment plan will be over 5 years, with a total amount of $ 3 billion.[/size]
[size=45]The oil expert, Hamza Al-Jawahiri, said in an interview with Al-Mada, that "Iraq still has a large amount of untreated gas that is burned in Basra Governorate, which constitutes 40%."[/size]
[size=45]Al-Jawahiri adds, "Iraq has other projects in this regard in Basra, Maysan and Dhi Qar," noting "its insufficiency as it needs investments for the gas burned in Basra, which is estimated in large quantities."[/size]
[size=45]Oil Minister Ihsan Abdul-Jabbar said in a press conference held last Monday, that "the major investment plan for the Basra Gas Company has been approved," indicating that "the investment in the company aims to increase by 40% of the production capacity of gas." He added that "the investment plan will be over a period of 5 years, with a total amount of $ 3 billion," noting that "we seek to reach 1,400 million cubic meters of gas through this investment."[/size]
[size=45]He continued that "gas investment projects are important to other industries," indicating that "there is a government commitment to secure all the dues of the Basra Gas Company."[/size]
[size=45]Abdul-Jabbar confirmed that "there are other projects in Nasiriyah, Maysan, Mansouriya, and crutches," explaining that "there is a technical discussion regarding the investment of crutches field by American and foreign companies." And he continued, "The aim of the investments is to reach the production of 400,000 mains," expressing hope that "the current situation of the Basra Gas Company is excellent, and we hope that our partners will make greater efforts to expand this investment and there is a government commitment to provide the dues."[/size]
[size=45]Abdul-Jabbar stressed "the need to be more courageous in supporting projects, implementing them and making efforts."[/size]
[size=45]He explained, "Despite this, the company has proven that it is Iraqi, and despite the foreign partners it confirmed its affiliation to the national economy and its effectiveness in supporting the economy, which is a clear pillar of that and will be more clear in the future."[/size]
[size=45]The oil expert indicates that "the projects were handed over to the Basra Gas Company represented by (Shell) and (Mitsubishi) with the participation of the South Gas Company," indicating that "51% goes to the ministry and 49% to the (Shell) company."[/size]
[size=45]Al-Jawahiri shows that "3 billion from Iraq, and 3 billion from (Shell) will be invested over 5 years," noting that "all the gas that is burned in Basra in the future will be invested with these funds." The oil expert went on to say, "With these investments and projects proposed by the Ministry of Oil, we reach (Alsolferik), meaning there is no gas that is burned in Iraq, and it becomes an investor." Two years, the investment funds that have been placed will be refunded.[/size]
[size=45]In turn, the specialist in economic affairs, Safwan Qusay, said in an interview with (Al-Mada) that "Iraq is trying not to open a window for partners in the gas industry process," noting that "it is possible, through the funds available with the Ministry of Oil and other ministries, that there is a purchase of shares "The companies that produce gas so that Iraq is the one who can produce and export."[/size]
[size=45]And Safwan adds, "This step helps to manage money away from the entry of partners and investments."[/size]
[size=45]The specialist in economic affairs indicates that "the gas industry needs money," indicating that "the process of financing it through the Ministry of Oil can contribute to reducing the burden on the rest of the investment windows in addition to the possibility of retaining the return that is generated through these investments."[/size]
[size=45]Safwan shows that "Iraq is trying to create a window to export gas to the European Union, given that Iraq has fields close to the European Union, as well as the possibility of repaying the remaining debts."[/size]
[size=45]It is noteworthy that Iraq began producing natural gas in conjunction with oil production in 1927, when oil flowed from the "Baba Karkar" field in Kirkuk, but the associated Iraqi gas was burned in waste without benefiting from it, since that time.[/size]
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