Iraq launches new gas exploration bidding round
Gas flares burn at an oilfield in Iraq. Photo: AFP
Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil launched an international bidding round on Tuesday for gas exploration in the western parts of the country.
The Iraqi Minister of Oil, Hayan Abdul-Ghani, mentioned in a statement that Iraq utilizes only 60 percent of the gas produced and burns about 40 percent of this gas, according to Shafaq News.
Abdul-Ghani elaborated that the Iraqi government concluded contracts with international companies, including TotalEnergies, to produce 600 million cubic feet of gas, equivalent to three-quarters of the gas that is currently being burned.
The Iraqi Oil Minister explained that the Basra Gas Company (BGC) is committed to producing gas from three major fields, which are Rumaila, Zubair, and West Qurna.
The Iraqi government made exceptional efforts to utilize flared gas to be used in generating electricity in the next three to five years, according to Abdul-Ghani.
The Undersecretary of the Iraqi Oil Ministry, Basim Mohammed Khudair, said last July that Iraq will take advantage of all available associated gas and achieve self-sufficiency by 2030, the Iraqi News Agency (INA) reported.
Khudair also indicated that foreign companies expressed their desire to invest in associated gas-related projects.
The Iraqi official explained that there are plans to fully develop oil fields in order to increase oil and gas production capacity, adding that American, Saudi, and Qatari companies have proposed to participate in projects related to associated gas in Iraq.