15 hours ago
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The Parliamentary Oil and Gas Committee confirmed the entry of four companies to invest in Iraq's gas, and while it considered that this investment would fill 30% of the country's need for gas, it suggested achieving self-sufficiency within five years.
Committee member Sabah Sobhi said, in a press interview seen by Taqaddam, that “there are four companies that entered to invest gas within the licensing round, in addition to the efforts of the Ministry of Oil to benefit from the gas associated with oil, to generate electric power stations.”
Sobhi added, "Iraq now owns 3 gas fields in the provinces of Diyala and Anbar and the border area between Iraq and the Iranian side, and these fields have entered the licensing and investment round."
He explained that "the gas fields that have entered the investment stage will fill the actual need for gas imports, with 30% of the gas imported from Iran to generate electric power stations."
The member of the oil and gas parliament ruled out achieving self-sufficiency in gas at the present time, adding that “Iraq needs new equipment and more development in gas investment, and it will be self-sufficiency in gas within the next 5 years.”
On March 29, Oil Minister Hayan Abdul-Ghani announced the start of gas investment operations from the Akkas gas field in Anbar Governorate, at a rate of (60) cubic meters.
Over the past decades, Iraq has suffered from a chronic shortage of gas, which it imports large quantities of from Iran, despite being one of the most prominent oil countries in the Middle East, at a time when gas associated with oil extraction that can be used is burned.
Iraq is among the nine countries responsible for the majority of gas flaring operations, which account for about half of the global production of oil, as according to World Bank data, Iraq is the second most country in the world that uses this practice after Russia and before Iran and the United States. In 2020, it reached The volume of gas burned in Iraq is 17.374 million cubic meters.
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