Iraq signs gas investment and processing contract for Nahr Bin Omar field

Shafaq News / Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghanni confirmed the importance of investing in the development and processing of gas from the Nahr Bin Omar field with a capacity of 150 million standard cubic feet per day, expandable by an additional 150 million as per requirements and available quantities.

This statement was made during his sponsorship of the signing ceremony between the South Gas Company and Al-Halfaya Gas Company Limited.

Abdul Ghanni emphasized in his speech during the contract signing ceremony that this project contributes to supporting the national economy by increasing gas production, investment, and processing associated with oil operations. It also aims to reduce external imports while establishing a liquefied gas export terminal and condensate at the Umm Qasr port. Additionally, the project aims to stop harmful emissions and preserve the environment.

The Minister highlighted the significance of this contract, which provides 5,000 job opportunities and prevents the release of more than eight tons of pollutants into the atmosphere.

On his part, Head of the National Investment Commission, Haider Mohammed Makkiya, stated that this investment project represents a significant pillar supporting the national economy, expressing hope for an increase in such projects that serve Iraq's interests.

Meanwhile, Deputy Minister of Gas Affairs, Ezzat Sabir, noted during the ceremony that this contract follows a "Build, Own, Operate, Transfer" (BOOT) model, with the first phase scheduled for completion within 36 months.

The Deputy Minister pointed out that this project is part of a series of contracts initiated by the Ministry. The goal is to leverage all associated gas quantities from oil fields to support the energy sector and bolster domestic production.

Moreover, Hamza Abdul Baqi, the Director-General of the South Gas Company, emphasized that the contract's investment objective aims to invest, collect, and process 150 million cubic feet of gas currently flared at the Nahr Bin Omar field in Basra governorate. The primary aim is to increase production to support the electricity sector, export surplus condensates and liquefied gas outside Iraq, and reduce carbon emissions.

Representing Al-Halfaya Gas Company Limited, Ahmed Al-Muhsin highlighted that the contract aims to build, develop, transport, and process burned gas quantity of 150 million.

Al-Muhsin highlighted that the project would halt the release of eight tons of pollutants into the air and create 5,000 job opportunities.