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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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    Oil reveals plans to maximize national gas production

    Rocky
    Rocky
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    Oil reveals plans to maximize national gas production Empty Oil reveals plans to maximize national gas production

    Post by Rocky Tue Feb 27, 2024 7:22 am

    Oil reveals plans to maximize national gas production

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    Economy News _ Baghdad
    Today, Tuesday, the Ministry of Oil clarified the mechanism for announcing its projects and contracts and competing with companies wishing to invest in them, while confirming that its future plans focus on developing gas fields to maximize national production.
    The Ministry’s spokesman, Asim Jihad, said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “projects for developing oil fields, exploration, or otherwise, are announced by the Ministry of Oil through licensing rounds that include a group of oil or gas sites or fields, "Companies wishing to invest in these fields are applying."
    Jihad continued: “After that, qualified companies are nominated in this framework that have experience, specialization and are able to develop these sites, whether they are discovered and undeveloped sites or undeveloped productive fields,” explaining that “the last contract that was announced and signed was within the fifth licensing round.” Which included a number of fields and sites in central and southern Iraq, and then the Ministry announced the fifth licensing round (Appendix), which also included the number of sites.
    He pointed out, "The Ministry announced the sixth licensing round, which included oil and gas hydrocarbon sites and structures, but most of them were gaseous," adding, "The Ministry set specific timings to receive companies interested in the projects announced in the fifth annex and sixth licensing round to develop the fields." .
    He explained, “Competition in licensing rounds is public, as the aforementioned field is displayed, and thus the advanced companies compete to develop this field, patch, or site, whether it has gas or oil hydrocarbon compositions, an oil field, or a gas field,” stressing that “the process "It is done with complete transparency."
    He pointed out, "The Ministry's plans during the next phase focus on gas fields and structures, in order to maximize national production in the gas sector, which constitutes an importance and priority in the Iraqi oil industry."



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