Contract to be signed to upgrade gas fields – official

BAGHDAD / IraqiNews.com: The oil ministry will sign Sunday contracts for the development of Akkaz and Mansouriya gas fields with the companies that won relevant tenders, a ministry’s official spokesman said Saturday. “The ministry will refer the contracts documents to the cabinet for review and approval, to become active, and ratification will take place by the companies,” Assem Jihad told IraqiNews.com news agency. “The goal of the signing is to cover the local needs of liquefied gas and employ working hands, as well as the use of gas in petrochemical industries to positively reflect on the economic and human development,” Jihad added. The third licensing round for the development of Iraq‘s gas fields had ended by offering Akkaz gas field in al-Anbar province to South Korea’s Gas Corporation (KOGAS) and Kazakhstan’s Monai, half-to-half, with 50% to Turkey’s TPAO. Al-Mansouriya gas field in Diala province was granted to a consortium, led by TPAO, also half-to-half between both companies. SKH (P)/AmR 1