2024-01-27T12:25:23+00:00
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/ The Undersecretary of the Ministry of Oil for Extraction Affairs, Basem Mohammed Khudair, confirmed on Saturday that the Iraqi government aspires to achieve self-sufficiency in gas production and export it outside the country.
This came in a speech he delivered during his attendance at the first conference on oil and gas in the Arab world and its future prospects, held at the Mansour Hotel from January 27-28, 2024.
Khader delivered the speech on behalf of the Deputy Prime Minister and Minister of Oil at the conference held under the slogan (Hydrocarbon Wealth: A Guarantee for a Smooth Transition Towards Renewable Energy and a Sustainable Economy).
The Undersecretary of the Ministry for Extraction Affairs said: “The Iraqi oil file is witnessing today a rapid and effective movement in the oil and gas sectors, and within the ambitious strategic government vision of the state aimed at increasing production and export capacities, increasing oil reserves, compensating for the depleted ones, ending the file of flared gas and importing gas, and with high confidence we aspire to export gas and achieve self-sufficiency for our country.”
The oil official called on qualified international companies to participate in the competition for the projects of the fifth and sixth licensing rounds’ annexes, adding: We, as the Ministry of Oil, will support anyone who wishes to participate with us in a pioneering Iraqi oil industry in an attractive and stable work environment.
Khader continued by saying: Our government and ministry will spare no support or assistance to activate the file of oil conferences and workshops, in the service of our country.
Iraqi Prime Minister Mohammed Shia al-Sudani confirms that his government is determined to eliminate the burning of natural gas associated with oil extraction, and says that he is determined to make Iraq an “active player” in the global gas market.
Iraqi Oil Minister Hayan Abdul Ghani has confirmed on several occasions that the ministry is working to achieve self-sufficiency in gas within the next five years.
Despite Iraq’s low gas production, it ranks 12th in the world in terms of gas reserves, at 130.5 trillion cubic feet per day, according to data from the British oil company BP for 2016. Iraq consumes most of its gas to feed power stations, while importing the remaining needs from Iran.