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Oil Minister: Exploration blocks whose contracts have been signed will provide approximately 800 million cubic feet of gas
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Economy News - Baghdad
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Added 2024/08/15 - 10:06 AM
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Economy News - Baghdad
Oil Minister Hayan Abdul-Ghani confirmed today, Thursday, that the contracts signed for the exploration blocks that were signed yesterday by the ministry and the companies, which number 13 gas and oil exploration blocks, will be activated soon. These companies will seek to develop the fields and exploration blocks in the hope of achieving no less than 750,000 barrels of crude oil production in addition to gas production of about 800 million cubic feet.
Abdul-Ghani said in a televised interview followed by "Al-Eqtisad News" that the ministry is looking forward to stopping gas flaring operations at the beginning of 2028 and employing all gas produced to generate electricity in addition to other industries, noting that we are moving forward to end gas imports and achieve self-sufficiency.
He added that the urgent need lies in developing the oil and gas industry to provide the quantities of gas needed to operate power stations and stop importing gas from neighboring countries, indicating that the fields whose contracts were signed and subject to investment extend from northern Iraq to its south.
For his part, the spokesman for the Ministry of Oil, Asim Jihad, explained that in continuation with the government program, the ministry has achieved important rates of accomplishment in the gas investment sector, and the ministry is working on several axes: first, investing in gas associated with oil operations and contracting with specialized international companies to invest all the gas that can be added to national production, and the second axis is investing in gas fields.
Abdul-Ghani said in a televised interview followed by "Al-Eqtisad News" that the ministry is looking forward to stopping gas flaring operations at the beginning of 2028 and employing all gas produced to generate electricity in addition to other industries, noting that we are moving forward to end gas imports and achieve self-sufficiency.
He added that the urgent need lies in developing the oil and gas industry to provide the quantities of gas needed to operate power stations and stop importing gas from neighboring countries, indicating that the fields whose contracts were signed and subject to investment extend from northern Iraq to its south.
For his part, the spokesman for the Ministry of Oil, Asim Jihad, explained that in continuation with the government program, the ministry has achieved important rates of accomplishment in the gas investment sector, and the ministry is working on several axes: first, investing in gas associated with oil operations and contracting with specialized international companies to invest all the gas that can be added to national production, and the second axis is investing in gas fields.
120 views
Added 2024/08/15 - 10:06 AM
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