Iraq is working to achieve gas production and investment with a capacity of more than 1,000 cubic meters in two fields.
Iraq is working to achieve gas production and investment with a capacity of more than 1,000 cubic meters in two fields.
2025-06-04 06:17
Shafaq News/ Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani Al-Sawad said on Wednesday that Iraq has achieved remarkable progress in the fields of energy and natural resources investment and reform programs aimed at establishing the foundations for sustainable development.
“The ministry has made significant strides in increasing investment in associated gas and reducing its flaring rates,” the minister said during his participation in the Iraq-Britain Business Council (IBBC) conference in London. “The investment rate has risen to more than 70% in a short period,” he said. “When the current government took office, the rate was 53%, through prominent projects such as Basra and Artawi gas, Halfaya and Nasiriyah gas, the Fayhaa field, and others.”
He pointed out that the ministry is working to launch gas investment projects in the Akkas and Mansouriya fields, to achieve gas production and investment with a capacity exceeding 1,000 cubic meters, explaining that this comes within programs that allow for accelerated stages, which provide important opportunities for international partnerships, especially in projects for processing, transportation and generating electricity from gas, adding that the ministry has also achieved progress in the field of developing oil fields.
He continued, “In this context, carbon and methane emission reduction projects stand out as promising opportunities for partnership with the private sector, through the deployment of monitoring and reduction technologies or infrastructure development, in light of Iraq’s commitment to climate agreements. In light of the multiple gas investment projects, Iraq has taken the initiative to form a carbon bond company.”
The Minister pointed to the implementation of an integrated project with the French company Total Energies, which includes oil production from the Artawi field with a capacity of 210,000 barrels per day, gas investment with a capacity of 600 megawatts, in addition to a project to generate electricity based on solar energy, which is the first project that will start production at the end of this year with a capacity of 250 megawatts, in addition to a project to produce injection water with a capacity of 5 million barrels per day based on seawater, and the project is the first of its kind in the region with its interconnected components.
Al-Sawad noted the development in the refining sector and the increase in oil derivatives production rates, with an additional production capacity of 360,000 barrels per day. Through this increase, Iraq has halted the import of gas oil and kerosene, and reduced gasoline imports to a minimum.
He continued, saying, “By the end of this year, the import of white products will cease, and Iraq will become a self-sufficient country, exporting its surplus products abroad. This self-sufficiency will come through the operation of the Karbala refinery, the fourth unit in the Southern Refineries Company in Basra, in addition to projects to increase production in the Northern Refineries Company.”
shafaq.com
