BAGHDAD, Oct 20 (NNN-NINA) – The Iraqi Oil Ministry confirmed, it plans to fully invest in associated gas in the country, by the end of 2023.
The ministry’s deputy minister, Hamid Younis, said that, Iraq is currently investing in 1,500 million cubic feet (MMCF) of associated gas, produced from some of the country’s oil wells, out of a total of 2,700 MMCF that come from all Iraqi oil wells.
The Oil Ministry has plans, aimed at fully investing in the remaining 1,200 MMCF through four under-construction projects in southern Iraq. It is hoped that these projects will be completed by the end of 2023.
Younis also said, previously the ministry plans to invest in free gas from the gas fields in Mansouriyah, in Iraq’s eastern province of Diyala, and Akkaz, in the western province of Anbar, as both were within the country’s former oil and gas auctions.
However, the deterioration of the security situation in the country, when the Daesh militants took control of these areas, prevented the winning companies from investing in the two gas fields.
Iraq holds 132 trillion cubic feet (Tcf) of proven natural gas reserves, and the ministry is keen to invest in the associated and free gas, to meet the country’s need, the statement added.– NNN-NINA
