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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Oil announces the activation of contracts to invest in gas amounting to 400 million cubic feet

    Rocky
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    Oil announces the activation of contracts to invest in gas amounting to 400 million cubic feet Empty Oil announces the activation of contracts to invest in gas amounting to 400 million cubic feet

    Post by Rocky Sun 15 Oct 2023, 9:23 am

    Oil announces the activation of contracts to invest in gas amounting to 400 million cubic feet

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    Economy News - Baghdad
    Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani, announced on Sunday the activation of three contracts with the Emirati company “Al Hilal” within the fifth licensing round to invest in gas in an amount of 400 million standard cubic feet from the fields (Khasham Al-Ahmar, Kalabat, and Khader Al-May).
    The Ministry of Oil stated in a statement, “This came during the signing of the contracts to activate the aforementioned fields and sites,” as the Minister of Oil confirmed “the agreement with the UAE’s Crescent to complete the development and investment process within an accelerated completion period of one and a half years.”
    Abdul Ghani said, “The government and the ministry are keen to increase gas investment rates through implementing investment projects to develop fields and exploratory patches within the fifth licensing round whose contracts were signed with the companies that won the qualification last February 2023,” noting “the importance of using the invested gas to generate gas.” electricity".
    He pointed out that "activating these contracts will prevent the burning of gas, and the invested gas will be used to generate electrical power through mobile generating stations at field sites with the aim of supplying the national grid with good quantities of the invested gas."
    For his part, the Executive Director of Crescent Petroleum Company, Abdullah Al-Qadi, said, “Today it was announced that the contracts for developing the three fields with Basra Oil and Central Oil Companies had begun to be activated in the presence of the Deputy Prime Minister for Energy Affairs, the Minister of Oil, and the agents and general managers of the two companies.”
    Al-Qadi added, “Al-Hilal Company is proud of this positive event and we hope to achieve all the desired goals by producing gas in large quantities within the shortest possible period to supply the gas industry in Iraq and generate additional electricity capacities. We are committed to Iraq in general and to the Ministry of Oil to implement contracts in accordance with contract".
    In turn, the Director General of the Central Oil Company, Kadouri Abdel Salim, stated that “activating the contracts will provide dry gas for electric power generation stations, in addition to liquid gas (LPG), and these projects will support the national economy,” noting that “the fields (Khasham al-Ahmar and Kalabat) It is located in Diyala Governorate and will provide job opportunities for the people of the governorate, and the company will directly implement work according to the agreed upon plans and programmes.”
    For his part, the Director General of the Basra Oil Company, Bassem Abdul Karim, said, “All procedures have been completed by the Basra Oil Company and the Emirates’ Crescent Company regarding the development of the (Khader Al-May) field in Al-Zubair district in Basra Governorate, within the fifth licensing round,” continuing that “the field It is considered one of the exploratory fields, and seismic surveys will begin, and their results will be presented, and knowledge of the direct and implementation in the field will be known. Today, the activation of the signed contract was announced, and that the field is of great importance because it is one of the most promising fields and is likely to contain large quantities of gas.”


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