Iraq engages Ukrainian firm for Akkas gas field development contract

Shafaq News/ On Wednesday, the Iraqi Ministry of Oil announced signing a contract with the Ukrainian company UKRZEMRESURS to develop the Akkas gas field in Al-Anbar Governorate, western Iraq.

Oil Minister Hayan Abdul Ghani said the contract aims to produce 100 million standard cubic feet (mscf) per day in the first two years, rising to 400 mscf in 4 years.

The announcement came during the signing ceremony attended by Minister Abdul Ghani, the state-owned Midland Oil and North Oil Company, the Petroleum Contracts and Licensing Directorate, and Ukrzemresurs.

The ceremony also witnessed the signing of a concession contract by the Korea Gas Corporation (KOGAS) company in favor of the Ukrainian company.

Meanwhile, the Iraqi deputy oil minister for extraction, Bassim Mohammed Khudair said, "This contract was achieved after years of waiting due to the war against terrorist gangs."

Mohammed Yassin Hassan al-Obaidi, the General Manager of the Midland Oil Company, said, "the concession of the Korean company to the Ukrainian company to execute and invest in the Akkas field project, represents a significant step towards gas investment, especially in the western region due to its large gas reserves.”

“We are working on optimizing its investment to supply the national network with new gas capacity that supports the energy sector in Iraq and enhances national production."