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Oil reveals its plans to invest in renewable energy: a new axis to be implemented by Total
September 29, 2021
Oil reveals its plans to invest in renewable energy: a new axis to be implemented by Total
September 29, 2021
Ultra Iraq - Editorial Team
The Ministry of Oil revealed its plans to invest in renewable energy, pointing out that it had made many agreements in this direction.
The official spokesman for the ministry, Assem Jihad, told the official agency, and "Ultra Iraq" followed him, "One of the important files that the Ministry of Oil is working on is investing the gas associated with oil operations, stopping gas burning and converting it into useful energy that supplies electric power stations," noting that "one of The projects that the ministry has worked on for years is the (Baker Hughes) project, with a capacity of 200 million standard cubic feet per day, and its investment from two fields in Dhi Qar Governorate, namely (Al-Nasiriyah field) and (Al-Gharraf). Electricity, in addition to providing liquid gas, sulfur and other benefits related to the development of these projects.
He added, "The Ministry of Oil has recently done a lot of agreements and contracts in this direction, including a group of projects with (French Total), which will add (600) million standard cubic feet of investment in a number of fields in Basra Governorate, as well as in Maysan Governorate," pointing out He added, "It was agreed with a Chinese government company to invest in gas and provide 300 million standard cubic feet per day."
He added, "All these plans come in order to stop burning gas and turn it into useful energy that supplies electric power plants, support the Iraqi national economy, provide job opportunities, and so on," stressing that "the ministry has introduced a new axis, which is the investment of renewable energy (solar energy) and therefore there are agreements and projects. With the French company (Total) and global sources to provide large quantities.
He pointed out that "the government and the ministry have promising plans to implement projects in that direction, and we hope that they will cover part or all of the local need, even though the local need continues to grow."
He pointed out that "gas investment is linked to an increase in oil production, but it is important to contract with international companies in light of the health challenges facing the global economy in general," noting that "the presence of these companies is a message that Iraq is an attractive investment environment for international companies."
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