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[size=36]Basra Oil sets the date for activating the Total gas investment contract and agreements for joint fields[/size]
Economie| 11:22 - 01/12/2021
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Baghdad - Mawazine News
The Basra Oil Company confirmed, today, Wednesday, that in early February of next year, the Total gas investment contract will be activated.
The Director General of the Basra Oil Company, Khaled Hamza Al-Shara, said that "the company has contacted neighboring countries to invest in joint fields by choosing a foreign consultant to set standards," noting that "negotiations with Kuwait and Iran are to bring the views closer and establish a future agreement."
He explained, "The current production amounted to two million and 900 thousand barrels," noting that "there is available energy that is used according to the limitations of OPEC."
He pointed out that "work is still halted at the Al-Amaya port, and there is an agreement with a foreign company for the integrated examination of export facilities," noting that "the future plan for the Al-Amaya port is ready to work, and the problem lies in the conveyor pipe and it needs maintenance, and the company is working to refer it to foreign companies."
He pointed to the possibility of exporting 6 million standard barrels per day by 2025 after the completion of rehabilitation projects and new projects, noting that "the Basra Oil Company has a strong desire to acquire ExxonMobil's share in the West Qurna 2 field, and there is still negotiation with Exxon's allies. Mobil for the purpose of coordinating with them, as well as the presence of government support to buy the company’s share.”
For his part, the company’s deputy general manager, Ahmed Dehim, stated that “the company has the ability to manage the West Qurna field project as a major operator, especially since it has the experience of the Majnoon field after Shell withdrew from the field.” The oil licensing contract in 2018, especially since the company’s cadres hold international certificates specialized in the oil industries.”
He pointed out that “Al-Amaya port is Iraqi and will remain, but there are variables specific to the Iranian side, but this does not change anything in Iraq’s sovereign ownership of the port,” noting It was "discontinued as a result of maintenance work."
He continued, "The company is awaiting the completion of the third offshore pipeline, to construct the fifth buoy in order to increase the design capacity," noting that "the joint fields with Iran are part of the Majnoon field and the Faiha field, and production has recently entered."
And he indicated, "The Ministry of Oil has taken into account the variables resulting from the world's interest in clean energy, as a contract was signed and a complete plan for future production was drawn up at a cost of more than one billion euros."
He explained, "Total is a major project to develop and invest gas to get rid of burning associated gas, and the investment experience is a partnership contract in Basra gas, which prompted the company to sign an investment contract with Total with a capacity of 600 million cubic meters."
He pointed out that "the project consists of two units with a capacity of 2.5 million cubic meters, and a third unit will be added for local consumption," stressing that "in early February next year, the contract with Total will begin to activate."
The Director General of the Basra Oil Company, Khaled Hamza Al-Shara, said that "the company has contacted neighboring countries to invest in joint fields by choosing a foreign consultant to set standards," noting that "negotiations with Kuwait and Iran are to bring the views closer and establish a future agreement."
He explained, "The current production amounted to two million and 900 thousand barrels," noting that "there is available energy that is used according to the limitations of OPEC."
He pointed out that "work is still halted at the Al-Amaya port, and there is an agreement with a foreign company for the integrated examination of export facilities," noting that "the future plan for the Al-Amaya port is ready to work, and the problem lies in the conveyor pipe and it needs maintenance, and the company is working to refer it to foreign companies."
He pointed to the possibility of exporting 6 million standard barrels per day by 2025 after the completion of rehabilitation projects and new projects, noting that "the Basra Oil Company has a strong desire to acquire ExxonMobil's share in the West Qurna 2 field, and there is still negotiation with Exxon's allies. Mobil for the purpose of coordinating with them, as well as the presence of government support to buy the company’s share.”
For his part, the company’s deputy general manager, Ahmed Dehim, stated that “the company has the ability to manage the West Qurna field project as a major operator, especially since it has the experience of the Majnoon field after Shell withdrew from the field.” The oil licensing contract in 2018, especially since the company’s cadres hold international certificates specialized in the oil industries.”
He pointed out that “Al-Amaya port is Iraqi and will remain, but there are variables specific to the Iranian side, but this does not change anything in Iraq’s sovereign ownership of the port,” noting It was "discontinued as a result of maintenance work."
He continued, "The company is awaiting the completion of the third offshore pipeline, to construct the fifth buoy in order to increase the design capacity," noting that "the joint fields with Iran are part of the Majnoon field and the Faiha field, and production has recently entered."
And he indicated, "The Ministry of Oil has taken into account the variables resulting from the world's interest in clean energy, as a contract was signed and a complete plan for future production was drawn up at a cost of more than one billion euros."
He explained, "Total is a major project to develop and invest gas to get rid of burning associated gas, and the investment experience is a partnership contract in Basra gas, which prompted the company to sign an investment contract with Total with a capacity of 600 million cubic meters."
He pointed out that "the project consists of two units with a capacity of 2.5 million cubic meters, and a third unit will be added for local consumption," stressing that "in early February next year, the contract with Total will begin to activate."
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