Baghdad – IA – Hassan Al-Fawaz
The Ministry of Oil announced today, Sunday, that Iraq’s oil reserves have risen to more than 160 billion barrels, while indicating that 22 international companies are competing for gas field development projects, stressing that Iraq has achieved self-sufficiency in liquid gas and has begun exporting the surplus.
The ministry’s spokesman, Asim Jihad, told the (INA): “The fifth and sixth round of supplementary licenses comes in line with the government program that aims to optimize the investment of oil and gas wealth.”
He added, “The Ministry aims to maximize national production, especially of hydrocarbon and gaseous compounds found in the ground,” noting that “there are 22 international companies competing for projects to develop these fields.”
He pointed out, “Most of the exploration blocks nominated for competition are gas exploration blocks, and therefore this will support the energy sector in Iraq.”
Jihad confirmed, “The Ministry of Oil has achieved important steps in optimal gas investment projects in Maysan Governorate, at a rate of 300 cubic feet, and in Dhi Qar / Nasiriyah and Al-Gharraf Governorates, at a rate of 200 million standard cubic feet per day.”
He continued, “The contracts concluded by the Ministry regarding the Nahran Omar field will provide 300 million standard cubic feet in two stages, while the contract with Total will provide 600 million standard cubic feet per day.”
He pointed out, “The fifth licensing round will achieve more than 800 million standard cubic feet of gas, in addition to the efforts of the Basra Gas Company, where gas investment has reached 1,200 million standard cubic feet per day.”
He went on to say: “It is hoped that 200 million standard cubic feet will be added this year, so in total Iraq aims to achieve self-sufficiency to support the energy sector and reach the stage of self-sufficiency.”
He stressed, “Iraq has achieved self-sufficiency in liquid gas, and the surplus was exported outside the country,” noting that “this step is important in strengthening the Iraqi national economy.”
According to him, “the government effort focused during the last period on intensifying exploratory operations, and therefore this will lead to maximizing the Iraqi oil reserve,” adding, “It is hoped that during the coming period it will be announced that the Iraqi oil reserve will increase to more than 160 billion barrels, which will enhance the role of Iraq in the global oil market.
Regarding the activities of the fifth supplementary and sixth licensing round for the second day, Jihad explained, “The activities of the second day included competition for 11 fields and exploration plots, and these patches and fields began with the Abu Khaimah field in Al-Muthanna Governorate, which was transferred to the Chinese company Zenoa.”
Jihad added: “Now there is competition for the goat patch in Anbar Governorate. Competition will also take place today for patch No. 7 in Diwaniyah Governorate, Al-Dhafriyah field in Wasit Governorate, Sumer patch in Al-Muthanna Governorate, Tal Hajar in Nineveh Governorate, Al-Khanah in Salah al-Din Governorate, and Anah in Anbar.” Patch No. 11 in Najaf Al-Ashraf, Al-Anbar Plot in Anbar Governorate, and Qalat Saleh Field in Maysan.”
He expressed his hope that “these projects will be referred to competing international companies, in a way that will achieve a major transition in this context,” and tomorrow “the competition will be over another group of fields and exploratory patches.”
Yesterday, Saturday, Prime Minister Muhammad Shiaa Al-Sudani sponsored the ceremony to announce licenses for the fifth supplementary round and the entire sixth round, which includes a total of 29 projects for oil and gas exploratory fields and patches, distributed among 12 governorates.