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Serious talks with Total and Lukoil to establish gas plants, Minister of Oil says

Category: Economy

Date: 2021-02-28T10:50:47+0000
Serious talks with Total and Lukoil to establish gas plants, Minister of Oil says

Shafaq News/ Minister of Oil, Ihsan Abdul-Jabbar, said today, Sunday, that southern fields take precedence in oil production over the central and northern fields.

Abdul-Jabbar said in a statement to Shafaq News Agency, "Basra Gas Company manages a giant project to build new constructions. They are still in the initial stages, but they aim at producing 400 million cubic feet and 1000 million cubic feet in future."

Abdul-Jabbar pointed out that the South Oil company started negotiating with the French TOTAL and the Russian Lukoil to build plants with a capacity of 600 million cubic meters.

He added that Maysan is working on a project aiming to produce 300 million cubic meters, which equates to 20% production.

"Dhi Qar also will witness a big project to produce 200 million cubic meters, and they are now in the stage of land handling. Contracts were concluded with the companies. They are currently completing the credential documents."

Preliminary estimates of the Iraqi Ministry of Oil show that Iraq has 132 trillion cubic feet of gas reserves, and 70% of Iraqi gas is a byproduct of oil extraction. Iraq today occupies that 11th place among the world's wealthiest countries in natural gas.

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