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Including gas investment in 5 oil fields...Total's contracts in Iraq are detailed to Al-Iqtisad News
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Economy News - Baghdad
Today, Thursday, the Ministry of Oil detailed the contracts signed with the French company Total, while talking about an “important” project related to electrical energy in Basra Governorate.
The spokesman for the Ministry of Oil, Assem Jihad, told Al-Iqtisad News, “The contract with the French Total includes four axes or sectors,” pointing out that “the first contract is to transport and treat seawater, after which it is pumped to the oil fields as it requires large quantities.” of water, which helps the reservoir pressure in the oil fields to sustain and increase oil production.”
He added: "It is hoped that this project will pump 5 million barrels of water daily, as it converts salty water into safe water and pumps it to the oil fields," stressing: "We cannot develop and extract oil without water."
He pointed out that "the other contract involves investing in gas from five oil fields, with the first phase representing 300 million standard cubic feet per day, in addition to the second phase as well."
Jihad stated, “The third project is to increase production in the Artawi field to more than 210 thousand barrels per day,” adding, “The fourth project is to invest electrical energy from solar, that is, generating solar energy with a capacity of 1 kilowatt, with a capacity of 1000 megawatts in Basra Governorate.” .
A spokesman for the Ministry of Oil confirmed, “This project is considered the first in this field and size in Iraq.”
Earlier, the Iraqi Ministry of Oil announced the signing of contracts with French companies Total worth $27 billion, at a time when Oil Minister Hayan Abdul-Ghani announced yesterday, Wednesday, the arrival of Total to Iraq to begin development work in various sectors.
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Added 05/16/2024 - 10:27 AM
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Economy News - Baghdad
Today, Thursday, the Ministry of Oil detailed the contracts signed with the French company Total, while talking about an “important” project related to electrical energy in Basra Governorate.
The spokesman for the Ministry of Oil, Assem Jihad, told Al-Iqtisad News, “The contract with the French Total includes four axes or sectors,” pointing out that “the first contract is to transport and treat seawater, after which it is pumped to the oil fields as it requires large quantities.” of water, which helps the reservoir pressure in the oil fields to sustain and increase oil production.”
He added: "It is hoped that this project will pump 5 million barrels of water daily, as it converts salty water into safe water and pumps it to the oil fields," stressing: "We cannot develop and extract oil without water."
He pointed out that "the other contract involves investing in gas from five oil fields, with the first phase representing 300 million standard cubic feet per day, in addition to the second phase as well."
Jihad stated, “The third project is to increase production in the Artawi field to more than 210 thousand barrels per day,” adding, “The fourth project is to invest electrical energy from solar, that is, generating solar energy with a capacity of 1 kilowatt, with a capacity of 1000 megawatts in Basra Governorate.” .
A spokesman for the Ministry of Oil confirmed, “This project is considered the first in this field and size in Iraq.”
Earlier, the Iraqi Ministry of Oil announced the signing of contracts with French companies Total worth $27 billion, at a time when Oil Minister Hayan Abdul-Ghani announced yesterday, Wednesday, the arrival of Total to Iraq to begin development work in various sectors.
Views 89
Added 05/16/2024 - 10:27 AM
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