The Iraqi government has launched a promising project to invest gas associated with oil in (Bin Omar) field, one of the most important oil fields in Basra Governorate, in order to benefit from untapped natural resources and to achieve self-sufficiency in energy resources, specifically gas.
The project’s chief advisor, Mounir Bou Aziz, said in statements to reporters today, Sunday, that “the field’s production capacity is scheduled to reach about 400-500 thousand barrels of light oil per day, and the project includes integrated gas processing in the field and production of 150 million cubic feet of raw gas per day in the first phase, to reach 300 million cubic feet per day at the end of the project.
He added, “120 million cubic feet will be allocated for the production of electric power, as Iraq currently produces approximately 1,300 million standard cubic feet of gas, and imports about 750 to 1,000 million standard cubic feet from neighboring countries, so the productivity of this project upon completion will allow the dispensing of an important part of the imported gas, and it will also achieve significant financial abundance, in addition to filling the requirements for operating electric power plants.”
He explained, “The current government headed by Prime Minister Muhammad al-Sudani, and perhaps for the first time in the history of Iraqi oil and gas, went to search for local companies working in investment projects for associated Iraqi gas and stopping the daily burning process in which these fortunes are being wasted.”
The main advisor for the project went on to say that the contract concluded between the Iraqi government and the national company “Al-Halfaya Company, which is a local company within Raban Al-Safina group of companies,” includes harvesting and processing gas, extracting natural gas liquids, and building pipelines and berths for exporting liquefied and condensed petroleum gas, provided that the final production capacity of the field is reached 300 million cubic feet per day, and half of the gas produced from the field will be used to generate electric power, and it will achieve multiple benefits for Iraq by relying on its local companies.
Source: National Iraqi News Agency