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06/26/2013 - 09:09
Alsumaria News / Baghdad
The Oil Ministry announced Wednesday that investment returns associated gas in the southern fields during the next 20 years will amount to more than $ 500 billion, stressing that Iraq burns from 40 to 45% of the associated gas.
An official source at the ministry said in an interview for "Alsumaria News", "The revenue will exceed $ 500 billion in the past twenty next year by investing $ 40 billion to extract the associated gas from oil fields in the South," noting that "revenue will rise to more than $ 550 billion With the use of gas as fuel in power stations instead of crude oil. "
The source, who requested anonymity, that "the burning of 1,000 feet standard cubic per day of gas a loss of about $ 3.7 billion annually," pointing out that "projections indicate the arrival of natural gas production in Iraq between 19 to 115 billion standard cubic meters during the the year 2035. "
The source pointed out that "Iraq had burned about 40 to 45% of the associated gas from oil fields previously," adding that "the establishment of Basra Gas Company will be greatly reduced from the combustion gas operations in these fields."
Preliminary estimates indicate that Iraq possessed stockpiles estimated at 112 trillion cubic feet of gas, but that 700 million cubic feet per day and burns wasted due to lack of infrastructure.
It is noteworthy that Iraq is ranked tenth among the world's rich natural gas after Russia, Iran, Qatar, Saudi Arabia and the United Arab Emirates and the United States, Nigeria, Venezuela and Algeria, and the reserves are about 112, and burn Iraq 700 million cubic feet per day of associated gas and wasted due to lack of infrastructure.
[You must be registered and logged in to see this link.]
06/26/2013 - 09:09
Alsumaria News / Baghdad
The Oil Ministry announced Wednesday that investment returns associated gas in the southern fields during the next 20 years will amount to more than $ 500 billion, stressing that Iraq burns from 40 to 45% of the associated gas.
An official source at the ministry said in an interview for "Alsumaria News", "The revenue will exceed $ 500 billion in the past twenty next year by investing $ 40 billion to extract the associated gas from oil fields in the South," noting that "revenue will rise to more than $ 550 billion With the use of gas as fuel in power stations instead of crude oil. "
The source, who requested anonymity, that "the burning of 1,000 feet standard cubic per day of gas a loss of about $ 3.7 billion annually," pointing out that "projections indicate the arrival of natural gas production in Iraq between 19 to 115 billion standard cubic meters during the the year 2035. "
The source pointed out that "Iraq had burned about 40 to 45% of the associated gas from oil fields previously," adding that "the establishment of Basra Gas Company will be greatly reduced from the combustion gas operations in these fields."
Preliminary estimates indicate that Iraq possessed stockpiles estimated at 112 trillion cubic feet of gas, but that 700 million cubic feet per day and burns wasted due to lack of infrastructure.
It is noteworthy that Iraq is ranked tenth among the world's rich natural gas after Russia, Iran, Qatar, Saudi Arabia and the United Arab Emirates and the United States, Nigeria, Venezuela and Algeria, and the reserves are about 112, and burn Iraq 700 million cubic feet per day of associated gas and wasted due to lack of infrastructure.
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