Minister of Oil: We will continue to invest all available quantities of associated gas

[size=36]Minister of Oil: We will continue to invest all available quantities of associated gas[/size]

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[size=52]Iraqi Oil Minister: We are continuing to invest all available quantities of associated gas[/size]

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2023-04-14
Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani affirmed, on Friday, the ministry's keenness to invest all available quantities of associated gas in oil fields and convert it into useful energy to supply electric power plants and all industries related to gas fuel.[/size]
[size=45]Abdul-Ghani said during his inspection and follow-up of the Basra plant project for the separation and liquefaction of natural gas, that this project is one of the important strategic projects in the gas sector, with a capacity of (400 cubic feet) million standard cubic feet per day, implemented in two phases, the capacity of each production unit of which is (200 cubic feet). .[/size]
[size=45]He pointed out that the project will also prevent the release of an amount of (30) tons of equivalent carbon dioxide gas into the atmosphere or space, thanks to the sour gas treatment plants and the separation and liquefaction of liquids that were manufactured according to the latest approved international standards, and are managed by the Basra and South Gas Companies, according to A statement issued by the Ministry of Oil.[/size]
[size=45]And Abdul-Ghani indicated that his visit to the project site comes as part of his daily follow-up to the stages of project implementation and reviewing the procedures and final steps before the start of the experimental operation of the plant and its inauguration at the end of next May, and that the ministry is continuing to implement projects to invest all available quantities of gas associated with oil operations, and convert it into energy. Useful, which is emphasized by the government curriculum.[/size]
[size=45]For his part, the Deputy Managing Director of the Basra Gas Company, Port Kazem, said that the follow-up of the Deputy Prime Minister for Energy Affairs and the Minister of Oil and his follow-up to the most accurate details of the implementation of the project gave us additional impetus to complete the project on schedule, and that this project treats sour gas from the North Rumaila and West Qurna fields.[/size]
[size=45]Iraq, which has a production capacity of 4.5 million barrels per day, mainly produces associated gas from oil, and the Basra Gas Company processes about 30% of the gas produced in Iraq. However, Iraq is still the second largest country in the world in terms of gas flaring after Russia, according to the World Bank.[/size]
[size=45]According to preliminary estimates of the Ministry of Oil, Iraq has reserves estimated at 132 trillion cubic feet of gas, as about 70% of Iraqi gas is gas associated with oil extraction for treatment, and Iraq ranks 11th among the countries in the world rich in natural gas.[/size]
[size=45]It is noteworthy that Iraq signed an agreement with the French company Total to treat 600 million standard cubic feet of “Maqqam” at a cost of $3 billion.[/size]
[size=45]Iraq relies on Iranian gas to operate electric power plants, while the Ministry of Electricity estimated that the period of Iraq's need for Iranian gas ranges between 5-10 years.[/size]
[size=45]Iran recently reduced gas exports to Iraq after Iraq was late in paying its dues, before Iraq announced in June 2022 that it had paid $1.6 billion to Iran for gas imported from it.[/size]
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