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Oil is in discussions with international companies to invest in the Okaz gas field
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Economy News _ Baghdad
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Added 11/29/2023 - 10:33 AM
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Economy News _ Baghdad
The Ministry of Oil is discussing with an international company to invest in the Okaz gas field in Anbar Governorate.
The director of the Ministry’s Oil Research and Development Center, Ali Jassim, said in an interview with “Al-Sabah” followed by “Al-Iqtisad News,” that “the Ministry pays great attention to the western regions, as there is more than one seismic team working in Anbar Governorate to complete an extensive study,” pointing out “There are two exploratory patches in it.”
He added, "This will lead to a major movement in the governorate after the sixth licensing round, which is expected to be launched during the next phase."
Jassim revealed that “the Ministry is holding serious talks with an international company to invest in the (Okaz Gas) field, which ensures an optimal investment of the existing gases to meet the requirements of electric power generation.”
He pointed out that "the ministry's plans are ambitious to invest in gas in the coming period, in addition to what will be achieved by the fifth complementary and sixth licensing rounds, which will bring the country to the stage of self-sufficiency and contribute to reducing imports to the lowest level."
It is noteworthy that the Director of Oil Contracts and Licensing at the Ministry of Oil, Ali Maaraj, said in a previous press statement: “The Ministry is negotiating with the American company Halliburton to develop and invest in the Okaz gas field in Anbar Governorate.”
The director of the Ministry’s Oil Research and Development Center, Ali Jassim, said in an interview with “Al-Sabah” followed by “Al-Iqtisad News,” that “the Ministry pays great attention to the western regions, as there is more than one seismic team working in Anbar Governorate to complete an extensive study,” pointing out “There are two exploratory patches in it.”
He added, "This will lead to a major movement in the governorate after the sixth licensing round, which is expected to be launched during the next phase."
Jassim revealed that “the Ministry is holding serious talks with an international company to invest in the (Okaz Gas) field, which ensures an optimal investment of the existing gases to meet the requirements of electric power generation.”
He pointed out that "the ministry's plans are ambitious to invest in gas in the coming period, in addition to what will be achieved by the fifth complementary and sixth licensing rounds, which will bring the country to the stage of self-sufficiency and contribute to reducing imports to the lowest level."
It is noteworthy that the Director of Oil Contracts and Licensing at the Ministry of Oil, Ali Maaraj, said in a previous press statement: “The Ministry is negotiating with the American company Halliburton to develop and invest in the Okaz gas field in Anbar Governorate.”
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Added 11/29/2023 - 10:33 AM
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