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Oil: Efforts to achieve self-sufficiency in gas and shift to exporting it
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Economy News - Baghdad
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Added 11/26/2023 - 1:54 PM
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Economy News - Baghdad
Today, Sunday, the Ministry of Oil announced that two companies won three fields within the fifth licensing round, while confirming the existence of efforts to achieve self-sufficiency in gas and shift to exporting it.
The Undersecretary for Extraction Affairs, Bassem Muhammad Khudair, said, “The winning companies in the fifth oil licensing round are Crescent Energy Company, which won two fields within the Central Oil Company, and another company won the Hawizeh field.”
Khudair added, "The Ministry is waiting for international companies to submit their offers to invest in these fields and patches," noting that "there is a great ambition in the Ministry of Oil regarding these fields and patches, which is for Iraq to be a gas country, in addition to being an oil country."
He stressed, "His ministry seeks for Iraq to be a country that secures its internal gas needs and to be a source of gas."
The Ministry of Oil announced earlier that the process of developing the Khader Al-May oil field southwest of Basra Governorate, which was won by Al-Hilal Company, will begin in the coming days.
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Added 11/26/2023 - 1:54 PM
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