Oil Ministry unveils the close referral of the contract for the development of Akkas Gas Field to Ukrainian Company

 
Baghdad-INA
 
The Ministry of Oil announced on Saturday, that it will refer the contract to develop the Akkas Gas Field to Ukrainian company within days.
 
“The Ministry of Oil will announce in the coming days the referral of the contract to develop the Akkas Gas Field west of Ramadi to Ukrainian company, according to international standards that will enable it to increase investment in free gas in the country,” stated the Undersecretary of Extraction at the Ministry of Oil, Bassem Muhammad Khudair, to the Iraqi News Agency (INA). Pointing out that “the goal of investing and developing the field is to reach a production capacity of up to (400 cubic meters) per day”.
 
He continued, "After more than a decade of disrupting the production of free gas from Akkas Gas Field, following the signing of the initial contract to develop the field with the South Korean company (KOGAS) on June 1, 2011, Iraq will be able to invest in the second free gas field after Siba field south of Basra, coinciding with the French company Total Energy starting to implement its four projects to develop the production of the Artawi oil field invest gas in other fields, and build an electricity and water station in Khor Al-Zubair”.
 
He also pointed out that “the Council of Ministers approved, on March 20, 2023, the recommendation of the Ministerial Council for Energy (8 of 2022) regarding the consensual settlement with the South Korean company (KOGAS), the operator of Akkas gas field, Due to the Korean company’s delay in completing the strategic investment project for Iraq ".