Iraqi Oil Minister: Our gas reserves are 133 trillion cubic feet, and we aspire to achieve self-suff

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[size=52]Iraqi Oil Minister: Our gas reserves are 133 trillion cubic feet, and we aspire to achieve self-sufficiency[/size]

[size=45]On Thursday, the Iraqi Oil Minister, Hayan Abdul-Ghani, confirmed that the ministry is working to achieve self-sufficiency in gas during the next five years, referring to offering two licensing rounds to explore oil and gas fields, in this regard.[/size]
[size=45]Abdul-Ghani said in a statement to the Emirates News Agency, WAM, on the sidelines of the activities of the eighth international OPEC conference in Vienna, that the first licensing round included more than 10 oil and gas fields in western Iraq, and the second includes 13 fields and exploratory sites on the western borders, which will enable Iraq From the production of more than one billion and 500 million cubic feet of gas.[/size]
[size=45]He added that Iraq possesses large reserves of 144.5 billion cubic meters of oil and more than 133 trillion standard cubic feet of gas.[/size]
[size=45]He referred to a contract with “BP” 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.[/size]
[size=45]Abdul-Ghani continued, “We have contracts with (Eni) to develop the Zubair oil field, which currently produces 450,000 barrels of oil per day, as well as contracts in West (Qurna 1) with (Exxon Mobil) to produce 380,000 barrels of oil per day, in addition to contracts with (Lukoil) company in the West Qurna region to develop a field with a production of up to 410 thousand barrels per day, in addition to other contracts in different regions.[/size]
[size=45]He stressed that the oil production capacity in Iraq currently amounts to 5.4 million barrels per day, while the current total production under the “OPEC” share reaches 4.43 million barrels per day, with the 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.[/size]
[size=45]Regarding the contribution of oil and gas to the GDP of the State of Iraq, the minister explained 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.[/size]
[size=45]With regard to efforts to reduce carbon emissions, Abdul-Ghani indicated that Iraq has taken great steps in investing in natural gas as a source of clean energy, as investment is concentrated in southern Iraq, through the “Basra Gas” company, which is a joint alliance that includes the “Southern Gas” and “Shell” companies. and “Mitsubishi”, and since its inception it has been able to implement promising projects, on top of which is the Basra “NGL” project, which includes an investment of 400 million cubic feet of gas.[/size]
[size=45]He added, “The first phase of the project was opened last May with a capacity of 200 million cubic feet of gas, while the second phase of the project is expected to be completed by the end of the current year 2023, which will contribute to reaching 400 million cubic feet of natural gas.” ".[/size]
[size=45]He pointed out that there are investments in 5 oil fields, namely Majnoon, West Qurna 2, Luhais, Al-Toba, and Al-Sabbah, which will provide 600 million cubic feet of gas, which will enhance the contribution to meeting the needs of electric energy.[/size]
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