Oil: 65% of gas quantities are no longer being burned

Baghdad - INA

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani confirmed today, Thursday, the contracting of all gas fields and the cessation of burning 65% of its quantities while pointing out that Iraqi gas is distinguished globally by its content of ethane used in petrochemical industries.

Abdul Ghani told the Iraqi News Agency (INA): "There are no difficulties or technical problems in the process of developing fields and exploration blocks within the fifth and sixth supplementary licensing rounds, as all the information needed by the companies that signed with is available in an information bag that includes many criteria and information through which companies can submit their prices, in addition to the fact that there are periods set for companies to submit these offers, as the process took more than six months to study this information."

He added, "During this period, the Ministry of Oil was answering all inquiries submitted by these companies, to facilitate the process of submitting bids and preparing them at the required level."

He pointed out that "the expected production rates of the blocks are estimated at 700 to 750 thousand barrels per day, in addition to investing 850 cubic meters per day of gas, but it is hoped that the actual levels will be higher than the estimated levels," indicating that "there are fields that are currently producing large quantities of gas that are used in the national network that supplies the various power stations, as the gas investment rate has reached more than 65 percent, while the quantities that are currently being burned and have not been invested until now do not exceed 35 percent of the total gas quantities."

He continued, "All gas fields have been contracted for investment and employment through different contracts," noting that "there are contracts in Dhi Qar Governorate that have been signed and are now being implemented through a contract with (the American company Baker Hughes), where the completion rate has reached more than 65%, and there are contracts signed with the French company Total to invest gas from five oil fields, which are (Majnoon Field, West Qurna 2 Field, Al-Lahees Field, Al-Tuba Field, and Artawi Field), and through these contracts all the gas that is currently being burned will be invested."

He stressed that "the Ministry of Oil plans to completely stop flaring gas by the beginning of 2028, and all the gas produced will be used to generate electricity and other industries," adding that "Iraqi gas is distinguished globally by a specification that differs from other types of gas, as it contains a high percentage of ethane, which can be employed and used in petrochemical industries."