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[size=38]Oil Announces An Agreement With China's Sinopec To Develop The Second Largest Gas Field In Iraq
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01/20/2022 | 4:26 PM
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Information / Baghdad.
Oil Minister Jabbar Ihsan Abdul Jabbar Ismail announced, on Thursday, the signing of a contract to develop the Mansouriya gas field in Diyala Governorate with the Chinese company Sinopec, with an estimated capacity of 300 mm.
Ismail said, in a statement to the ministry, that the agency received a copy of it, that "the contract represents an addition to the investment of free gas from the Mansouriya field, which is the second largest gas field in Iraq."
The ministry's statement indicated that "the Central Oil Company was authorized to enter as a partner with the Chinese Sinopec Company, at a rate of (51%)."
The statement pointed out that "the area of the field is (150) km2, and the gas reserve is estimated at (4.5) trillion standard cubic feet, and it is the second largest gas field after the Akkaz field in Anbar Governorate. A coalition that included the Turkish company (TPAO), Kuwait Energy, and the Korean Kokaz, the coalition of the three companies did not start work in the field due to the security conditions that prevailed in the field area at the time.
It followed that "in 2021, the Ministry of Oil re-introduced the Mansourieh gas field in the sixth licensing round organized by the Department of Petroleum Contracts and Licensing, and won a contract to develop it by the Chinese company (SINOPEC)."
The contract stipulates, according to the statement, that “the Central Oil Company will be a government partner with a percentage of (51%), while the share of the Chinese company (SINOPEC) will be (49%). The expected production capacity of the field is 300 million standard cubic feet per day to supply electric power stations.”
She explained that "the most important objectives of the Mansourieh gas field development contract are to produce gas with a capacity of 300 cubic meters per day to supply the electric power plants and various industrial projects with their need of gas, in addition to providing job opportunities for the people of Diyala, upgrading the economic reality of the province and supporting the plans of the National Oil Company in gas investment." . finished/25h
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