An agreement with an American company to explore oil and gas in the Anbar desert

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[size=52]An agreement with an American company to explore oil and gas in the Anbar desert[/size]

[size=45]Oil Minister Ihsan Abdul-Jabbar revealed the imminent signing of a contract with an American company to verify the oil and gas reserves in the Western Desert (Al-Anbar) before investing them, indicating that the actual procedures would proceed after the Eid holiday. Abdul-Jabbar said in a television interview, which was followed by (Al-Mada), that "Iraq has been under pressure to increase its oil production outside the scope of OPEC's production policy, in what appears to be one of the repercussions of the Russian war on Ukraine."[/size]
[size=45]He continued, "Consumers always pressure their governments to reduce prices, while the rise in oil prices was not more severe as imagined, but it is due to the high rates of inflation globally and the increase in the prices of materials and raw materials."[/size]
[size=45]Abdul-Jabbar pointed out that "OPEC is committed to providing the necessary oil supplies to compensate for any shortfall in crude oil."[/size]
[size=45]He revealed, "The Ministry of Oil intends to sign a contract with the American company Halliburton to verify the volume of oil and gas reserves in the Western Desert of Iraq before entering into negotiations with international companies interested in investing in this region."[/size]
[size=45]He noted, "The ministry is currently conducting studies and investigations regarding the availability of oil and gas in the Western Desert, before entering into negotiations with Saudi Aramco and the American company Chevron to invest in this sector."[/size]
[size=45]Abdul-Jabbar said, "The Ministry of Oil has preliminary studies that indicate that the quantities in this area are low," and he talked about "sending Iraqi exploration teams to verify these studies." In addition, he confirmed that "the ministry has a decision to work with the American company Halliburton to drill a number of medium-sized wells.[/size]
[size=45]He stated, "Work is underway to activate the contract with the company after the Eid al-Fitr holiday so that, according to the results of the expected studies, negotiations with Chevron and Saudi Aramco will be resolved."[/size]
[size=45]Abdul-Jabbar stressed, "The Ministry of Oil is proceeding with its projects regarding verifying Iraq's gas capabilities in the Western Desert, so that the picture is clear to those interested in investing in this field by Chevron and Aramco," noting that "explorations by Iraqi teams are going in parallel with Activating the contract with the American company Halliburton.[/size]
[size=45]He went on to say that "investment in the crude oil sector recovers investment funds as quickly as possible, but the gas sector needs a long period to recover investments."[/size]
[size=45]Abdul-Jabbar added, "After 2013, there was a halt in gas projects and investments, and there was no required support or important projects until 2020, and the current government kept oil investments and added investments in the gas sector." He continued, "The state of reluctance was overcome with the Basra Gas Company, and investments were pumped into the company with more than $1.250 billion, and a special account was established for it and a loan was drawn in its favor from the International Finance Corporation worth $430 million."[/size]
[size=45]Abdul-Jabbar added, "The Basra Gas Company has started implementing very giant projects, the first phase of which is the establishment of two plants with a capacity of 400 million standard cubic feet, and a second phase is being added with a capacity of 400 million standard cubic feet, and the ministry recently signed a contract with Total to add 600 million standard cubic feet. standard cubic feet.[/size]
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