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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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    Iraqi Investment Company approves the “associated gas” project for the Bin Omar field in Basra

    Rocky
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    Iraqi Investment Company approves the “associated gas” project for the Bin Omar field in Basra Empty Iraqi Investment Company approves the “associated gas” project for the Bin Omar field in Basra

    Post by Rocky Tue 05 Mar 2024, 6:59 am

    Iraqi Investment Company approves the “associated gas” project for the Bin Omar field in Basra



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    2024-03-05 06:21
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    Shafaq News/ On Tuesday, the National Investment Authority signed an investment license with the Halfaya Gas Company, in order to begin investing in associated gas in the Bin Omar field in Basra Governorate.
    The head of the National Investment Authority, Haider Makkiya, told Shafaq News Agency, “Today, an investment license was signed with the Iraqi Halfaya Gas Company to invest in associated gas in the Bin Omar field,” noting that “the field provides 300 cubic meters and is equivalent to a third of what Iraq imports from the Iranian side.”
    He pointed out that "after the decision of the Council of Ministers and the signing of a contract at the Ministry of Oil, we began completing the procedures for signing the investment license."
    For his part, investor Saad Wahib told Shafaq News Agency, “Today the investment license for the Bin Omar gas field was signed, and this is considered the first Iraqi company in the field of associated gas investment.”
    He pointed out that "this field is a national project that deserves attention. The first step of the project is to get rid of environmental pollution, and the second step is that this investment will contribute to providing clean energy and gas instead of importing it from abroad."
    Wahib confirmed, "The field will provide 300 mqmq and the project completion period will be 36 months, after which we will rely on local Iraqi gas instead of imported gas."
    On November 24, 2023, the Iraqi Council of Ministers approved the implementation of the Bin Omar field gas development project according to the principle of build, own, operate, and transfer ownership, or what is known as “BOOT,” for a period of 15 years after the date of commercial operation.
    The step comes after the approval of the signing of the South Gas Company, affiliated with the Iraqi Ministry of Oil, with the Halfaya Gas Company, which is part of the Raban Al-Safina Group, a leading Iraqi developer in the energy, oil and gas sector.
    The Iraqi government has presented the gas file among the priorities of its government program, as the government is actively seeking to attract investments to develop the natural gas sector in the country.
    The Nahr Bin Omar field is one of the strategic fields in Basra Governorate, and the project will contribute to enhancing and meeting energy needs and environmental sustainability, by processing more than 300 million standard cubic feet of dry gas per day.
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