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[size=36]Iraq will achieve self-sufficiency in gas during the next five years[/size]
Economy | 10:42 - 07/07/2023
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Baghdad - Mawazine News
Ann News - Baghdad,
Iraqi Oil Minister Hayan Abdul-Ghani revealed that Iraq will achieve self-sufficiency in gas during the next five years.
The Iraqi minister said, in an interview with the Emirati agency, WAM, that his country had offered two rounds of licenses for exploration of oil and gas fields, the fifth complementary round, which included more than 10 oil and gas fields in western Iraq, and the sixth, which includes 13 fields and exploratory sites, located on the western borders of Iraq, which enables his country to produce More than 1,500 million cubic feet of gas, with the aim of achieving self-sufficiency over the next five years.
He added, in an interview that took place on the sidelines of the activities of the eighth international “OPEC” conference in Vienna, that Iraq possesses large oil reserves amounting to 144.5 billion cubic meters of oil and more than 133 trillion standard cubic feet of gas, indicating that Iraq has many fields that produce Large quantities of oil and gas through cooperation with many international companies.
He referred to a contract with the "British Petroleum" company to develop the Rumaila field, which is one of the large fields in Iraq and currently produces one million and 380 thousand barrels of oil per day in addition to the accompanying gas in large quantities, pointing out that most of the gas produced in Iraq is associated with oil production and is not free. .
The Iraqi Oil Minister added that the oil production capacity in Iraq currently amounts to 5.400 million barrels per day, while the current total production according to the “OPEC” quota reaches 4.430 million barrels per day, with his country looking forward within promising plans to raise production capacity to 6 million barrels per day, through Licensing contracts concluded with companies during the next stage.
On the contribution of oil and gas to the gross domestic product of the State of Iraq, he said that the contribution of oil constitutes the largest part in the gross domestic product of his country, as 90% of the state's imports depend on oil wealth, indicating keenness to provide these resources for the Iraqi state in light of the presence of many strategic projects in the country. Industry, agriculture and other sectors to enhance Iraq's resources.
Iraqi Oil Minister Hayan Abdul-Ghani revealed that Iraq will achieve self-sufficiency in gas during the next five years.
The Iraqi minister said, in an interview with the Emirati agency, WAM, that his country had offered two rounds of licenses for exploration of oil and gas fields, the fifth complementary round, which included more than 10 oil and gas fields in western Iraq, and the sixth, which includes 13 fields and exploratory sites, located on the western borders of Iraq, which enables his country to produce More than 1,500 million cubic feet of gas, with the aim of achieving self-sufficiency over the next five years.
He added, in an interview that took place on the sidelines of the activities of the eighth international “OPEC” conference in Vienna, that Iraq possesses large oil reserves amounting to 144.5 billion cubic meters of oil and more than 133 trillion standard cubic feet of gas, indicating that Iraq has many fields that produce Large quantities of oil and gas through cooperation with many international companies.
He referred to a contract with the "British Petroleum" company to develop the Rumaila field, which is one of the large fields in Iraq and currently produces one million and 380 thousand barrels of oil per day in addition to the accompanying gas in large quantities, pointing out that most of the gas produced in Iraq is associated with oil production and is not free. .
The Iraqi Oil Minister added that the oil production capacity in Iraq currently amounts to 5.400 million barrels per day, while the current total production according to the “OPEC” quota reaches 4.430 million barrels per day, with his country looking forward within promising plans to raise production capacity to 6 million barrels per day, through Licensing contracts concluded with companies during the next stage.
On the contribution of oil and gas to the gross domestic product of the State of Iraq, he said that the contribution of oil constitutes the largest part in the gross domestic product of his country, as 90% of the state's imports depend on oil wealth, indicating keenness to provide these resources for the Iraqi state in light of the presence of many strategic projects in the country. Industry, agriculture and other sectors to enhance Iraq's resources.
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