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Iraq is in the process of concluding a contract with the French "Total" to invest gas in 5 oil fields in Basra
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2023-05-09 03:59
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Shafaq News/ Member of the Oil, Gas and Natural Resources Committee, MP Ali Shaddad, revealed, on Tuesday, that a contract will be signed with the French company "Total" to invest gas in a group of oil fields in Basra Governorate, in the far south of the country.
Shaddad said in a statement today, "The Ministry of Oil will sign, two weeks from now, a contract with the French company Total to invest 600 cubic meters of associated gas in five oil fields in Basra Governorate."
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 world's countries rich in natural gas.
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.
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.
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.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-05-09 03:59
Share
Font
Shafaq News/ Member of the Oil, Gas and Natural Resources Committee, MP Ali Shaddad, revealed, on Tuesday, that a contract will be signed with the French company "Total" to invest gas in a group of oil fields in Basra Governorate, in the far south of the country.
Shaddad said in a statement today, "The Ministry of Oil will sign, two weeks from now, a contract with the French company Total to invest 600 cubic meters of associated gas in five oil fields in Basra Governorate."
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 world's countries rich in natural gas.
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.
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.
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.
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