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Iraq plans to achieve gas self-sufficiency by 2022 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Iraq plans to achieve gas self-sufficiency by 2022

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Iraq plans to achieve gas self-sufficiency by 2022 Empty Iraq plans to achieve gas self-sufficiency by 2022

Post by claud39 on Tue Oct 01, 2019 7:03 am

Iraq plans to achieve gas self-sufficiency by 2022


Iraq plans to achieve gas self-sufficiency by 2022 17419

Economy News _ Baghdad

South Gas Company announced on Tuesday that it plans to increase its production of dry gas to 1.6 billion cubic feet per day to achieve self-sufficiency by 2022.

"The direct investment rate of dry gas associated with crude oil in the fields of Ibn Omar, Nasiriyah and Majnoon reached about 150 million standard cubic feet per day," said Hayyan Abdul Ghani, general manager of the company, in an interview with Al-Sabah newspaper. Basra Gas Company through a joint venture between South Gas and Shell and Mitsubishi about 900 million standard cubic feet per day in the fields of Rumaila, Zubair and West Qurna 1, bringing the total production of one billion and 50 million standard cubic feet per day.

He explained that the company is in discussions with major companies around the world on the financing and construction of potential projects in the gas sector in the future, pointing out the signing of a contract with the US company (Honeywell) to build a liquid separation plant with a capacity of 300 million cubic feet of direct investment in five oil fields, including Crazy, lick and brick. ”

Al-Ghani pointed out that “Al-Basrah Gas Investment Company associated with three associated oil fields signed a contract last month with the Chinese Company for Engineering and Construction to build a natural gas facility in Artawi area consisting of two units to produce an additional 400 million" Mqmq "of gas per day.

 The first phase will be with a capacity of 200 million cubic feet planned to be completed in 2021, while the second is scheduled to enter service in 2022, which helps to reach the same year by investing in more than one billion and 600 million feet. This is an indication of the country's entry into the self-sufficiency phase of dry gas and the processing of the needs of power plants and petrochemical and fertilizer manufacturing companies. ”

He stated that “South Gas Company seeks to develop and modernize its surface facilities and the system of collecting gas associated with the production of crude oil by direct investment, and is the best among the contracts of service to develop the national economy”. 

Basrah fields to get rid of burning gas and preserve the environment and export surplus of liquefied gas and condensate to the global market to diversify the sources of state revenues Contributes to the reduction of financial expenditures after the phasing out of the import of fuel. ”

He added that direct investment contracts include the agreement on the recovery of companies to the amounts spent by financing, implementation, processing and advisory through the sale of dry gas at a time limit not exceeding three years from the date of operation and actual production, and by the end of that period, banks will raise the order from the banks. 

It will help the South Gas Company to distribute its direct production among the local markets and export the production of the Basra Gas Coalition of dry gas, liquefied gas and condensate, which will help the company in Of marketing to gain a strong foothold global gas sector. "

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