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Gharbia gas investment is the goal of the sixth licensing round
The first 11/08/2023
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Baghdad: Muhannad Abdul Wahab
The Parliamentary Oil and Energy Committee stated that gas investment in the western region, especially in the Okaz field, comes at the forefront of investments included in the sixth licensing round that began last June.
Committee member Ali Al-Mashkour told Al-Sabah: “75% of the fifth licensing round was gas investment and included Al-Amarah, Al-Kahla, and the Artawi field, and with the launch of the sixth round, it included the western regions such as the Okaz field and others, and the first group of these investments was activated through Work has begun in the Artawi field, and the rest of the investments will take their turn successively.”
He added, "The conditions that must be met by all companies that work to invest gas in Iraq are that they be of high standards of quality and specialization in the field, and there is nothing wrong with other companies joining them in the form of participation and taking on secondary contracts, whether Iraqi or foreign, provided that the sponsoring company is Specialized in gas investments.
He explained that “there are several laws related to oil, gas, and oil investments that are inactive, and a committee was chosen from within the parliamentary Oil and Gas Committee to study the broken and ineffective laws in order to activate many laws in order to support oil investment,” noting that “the main goal of gas investment is far from Regarding costs or increasing budget imports - it is to compensate for the country's actual need for gas imported from other countries and to spend billions of dollars in order to provide gas for electrical stations.
He pointed out that "investment budgets are drawn up in the form of studies and vary from one budget to another, and dividing projects over specific periods leads to different budget numbers."
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