Basra / private:
Today, Tuesday (August 29, 2023), the Iraqi government announced the launch of a new project to invest gas associated with oil in the (Bin Omar) field in Basra Governorate, southern Iraq.
The Halfaya Company, one of the companies of the Raban Al Safina Group, said in a statement received by "Baghdad Today", that "in order to benefit from Iraq's untapped gas resources and to achieve self-sufficiency in energy resources, specifically gas, it launched today a promising project to invest in gas associated with oil in the (Bin) field." Omar) is one of the most important oil fields in Basra Governorate, southern Iraq.
Mounir Bou Aziz, the project's main advisor, confirmed in press statements that "the field's production capacity is scheduled to reach 400 to 500 thousand barrels of light oil per day," noting that "the project includes integrated gas processing in the field and production of 150 million cubic feet of raw gas per day." In the first phase, to reach 300 million cubic feet per day at the end of the project.
He added that "120 million cubic feet will be allocated for the production of electric power, as Iraq currently produces approximately 1,300 million standard cubic feet of gas, and imports about 750 to 1,000 million standard cubic feet from neighboring countries, so the productivity of this project upon completion will increase." Pointing out that "the project will dispense with an important part of the imported gas, and achieve significant financial abundance, in addition to meeting the requirements for operating electric power plants."
He continued, "These reasons are what prompted the current Iraqi government headed by Muhammad Shia'a al-Sudani, perhaps for the first time in the history of Iraqi oil and gas, to search for local companies working in investment projects for associated Iraqi gas and to stop the daily burning process in which these revolutions are being wasted."
He explained that "the contract concluded between the Iraqi government and the national company included harvesting and processing gas, extracting natural gas liquids, and building pipelines and berths for exporting liquefied petroleum gas and condensate, provided that the final production capacity of the field is 300 million cubic feet per day, and half of the gas produced from the field will be used to generate electric power, and achieve Iraq has multiple benefits by relying on its local companies."
Iraq will import more than nine billion cubic meters of natural gas from Iran over the past year, leading the countries importing gas energy from the neighboring country.
According to a report presented by the "International Energy Institute" on statistics related to natural gas trade in the world, as part of the seventy-second annual report of the Statistical Review of World Energy, "the Islamic Republic of Iran's natural gas exports last year amounted to 18.9 billion cubic meters, of which 9.4 billion were exported." One billion cubic meters of it to Iraq, 9.1 billion cubic meters to Turkey, and 0.4 billion cubic meters to the Republic of Azerbaijan.
The report indicated that Iran achieved a growth rate of 9%, with its total gas exports reaching about 19 billion cubic meters, and its contribution to the equivalent of 2.5% of natural gas trade around the world.
The Iraqi Prime Minister, Muhammad Shia' al-Sudani, announced on June 24 that the matter of importing gas is nearing completion, referring to the signing of contracts with international companies for the maintenance of power stations in Iraq.
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