Iraqi Oil: Gas investment has reached 70% and will increase next year.
Iraqi Oil: Gas investment has reached 70% and will increase next year.
2025-05-25 04:47
Shafaq News/ Abdul-Baqi Khalaf, an advisor to the Iraqi Ministry of Oil, confirmed on Sunday that Iraq is investing approximately 70% of its associated gas, noting that this percentage will increase next year.
Khalaf told Shafaq News Agency, “Iraq invests 70% of its associated gas, but it needs 1,000 cubic meters of imported gas if there are economic challenges.”
He added, “The current investment amounts to 2,000 cubic meters of gas out of a total of 3,000 cubic meters. Part of the invested gas is consumed within the Ministry of Oil in the production process and for industrial purposes, while the other part, 1,000 cubic meters, is supplied to the Ministry of Electricity to operate power plants.”
He continued, “The Ministry of Oil has several projects in Basra and Dhi Qar provinces that will contribute to increasing gas production.” He added, “The ministry is working to increase gas investment, which will rise from 2,000 cubic meters per day to 2,700 cubic meters per day next year.”
In 2023, Iraq reportedly made progress in exploiting associated gas, achieving a utilization rate of 60%: 700.8 billion cubic feet of the 1,141.8 billion cubic feet of associated gas produced were exploited, according to Izzat Sabir, Iraq’s Deputy Oil Minister for Gas Affairs, in an interview conducted in March 2024.
However, international data from the same year indicated that 636.8 billion cubic feet were burned, resulting in heavy methane emissions.
shafaq.com
