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A "billion-dollar project"... Qatar Energy participates in the integrated gas growth project in Iraq
[size=11]Publish date: 04.05.2023 | 15:39 GMT |[You must be registered and logged in to see this link.][/size]
Qatar Energy announced that it has agreed to acquire a 25% stake in the Gas Growth Integrated Project (GGIP), a multi-billion dollar project aimed at developing Iraq's natural gas resources.
Qatar News Agency (QNA) stated that the project consortium will consist of the Basra Oil Company (30%), Total Energies (45%) and Qatar Energy (25%), after completing contractual arrangements and obtaining the usual regulatory approvals.
For his part, Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, said that the project is important and vital to the energy sector in the sister Republic of Iraq, looking forward to working with the partners in Total Energies and the Basra Oil Company for the success of this project.
He continued, "I would like to thank the Iraqi government for its valuable support to reach this agreement and for its confidence in Qatar Energy as a reliable partner."
It is worth noting that the Integrated Gas Growth Project was signed in September 2021, and it is a strategic project that includes investments of about $10 billion to design and construct facilities to recover large quantities of gas that was previously flared in the Basra region and supply it to power generation stations, in addition to building an integrated system for processing and distribution. Sea water to be injected into oil reservoirs to maintain pressure in those reservoirs.
Source: "Qena"
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[size=11]Publish date: 04.05.2023 | 15:39 GMT |[You must be registered and logged in to see this link.][/size]
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Qatar Energy announced that it has agreed to acquire a 25% stake in the Gas Growth Integrated Project (GGIP), a multi-billion dollar project aimed at developing Iraq's natural gas resources.
Qatar News Agency (QNA) stated that the project consortium will consist of the Basra Oil Company (30%), Total Energies (45%) and Qatar Energy (25%), after completing contractual arrangements and obtaining the usual regulatory approvals.
For his part, Saad bin Sherida Al-Kaabi, Minister of State for Energy Affairs, Managing Director and CEO of Qatar Energy, said that the project is important and vital to the energy sector in the sister Republic of Iraq, looking forward to working with the partners in Total Energies and the Basra Oil Company for the success of this project.
He continued, "I would like to thank the Iraqi government for its valuable support to reach this agreement and for its confidence in Qatar Energy as a reliable partner."
It is worth noting that the Integrated Gas Growth Project was signed in September 2021, and it is a strategic project that includes investments of about $10 billion to design and construct facilities to recover large quantities of gas that was previously flared in the Basra region and supply it to power generation stations, in addition to building an integrated system for processing and distribution. Sea water to be injected into oil reservoirs to maintain pressure in those reservoirs.
Source: "Qena"
[You must be registered and logged in to see this link.]
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