Iraq Invests Associated Gas to Achieve Self – Sufficiency

Expectations of export surplus than in 2018  BAGHDAD – Mustafa al-Hashemi The Ministry of Oil that foreign oil companies in southern Iraq, continuing to work in the investment of gas associated with oil along the Basra Gas Company since last year in order to reach production in 2000 Mqmq, within the plan set for it, after it was initial production from 420 Mqmq day.  He said ministry spokesman Assem Jihad told (morning) that the quantities of the gas will be sufficient to meet domestic demand in relation to the generation of electric power, as is the case in the provinces of Wasit, Maysan, indicating that the Ahdab oil field will feed the province of  Wasit gas through a pipeline stretching from treatment plants and then to power plants. He pointed out that the amount of associated gas increases as increased oil production, pointing out that some of the oil fields began to generate electrical power allocated to the oil production of associated gas is the richest on the use of the national electricity in it. He Jihad said the amounts of associated gas will be sufficient at the local level there is also a plan to export the surplus than in 2018, adding to the liquid gas will achieve self-sufficiency of it over the next year.

Experts predict specialists in the oil industry to increase investment rates of gas associated with oil’s (2000) Mqmq per day by the year 2017, where the current production is about 500 Mqmq per day from fields in Basra. It also supported and directed the Ministry of Oil in Iraq will be able to achieve self-sufficiency of liquid gas over the next year, while the rate will produce gas associated with oil to 2,000 million standard cubic feet per day by the year 2017.  Reports indicate that the ratio of the volumes of gas that burns per day currently is about 50 percent, but the development work with the Basrah Gas Company and companies coalition Global may reduce the size to 15 percent by the end of 2017, while estimates of the financial values ​​of gas burned per day vary depending on the market, knowing that the price of gas linked to oil prices, but in general, up to amounts that can not be overlooked. Studies show that investments in the field invader can check for Iraq revenues of up to 500 billion dollars in the next twenty years, in addition to the fifty billion dollars as a result of bringing the gas as fuel in power plants, instead of the crude oil used in the present time.

For his part, the former oil minister, Dr. Ibrahim Bahr al-Ulum said initial predictions suggest that up production of gas associated with oil for good levels to meet the needs of the country’s natural gas within two years, therefore, during this period there will be some decrease in the provision of electric power.  Added Bahr al-Ulum in an earlier statement the “morning” that “big project started by the oil sector, represented by the Ministry of Oil to invest associated gas with Shell and Mitsaubia three years ago, as it began to work since May last year, 2013, is scheduled to be completed during 2017,” stating that the Ministry of Electricity has sought to import Iranian gas pipeline network and the establishment of the gas production.  Iraq flares about 12 billion cubic meters of natural gas associated with crude oil produced from the wells of Basra, exceeding cost more than 15 billion dollars a year, while Iraq to import gas from Iran to meet the needs of local annually at an estimated cost of more than four billion dollars.  The economic expert Mahmoud Alloush has called for increased investment in the sector instead of gaseous combustion in air over pollution factors, stressing the importance of investment in this sector is important as a resource that supports the joints Tnicht many the most important sectors of the manufacturing industry and petrochemicals.

And in between his statement the “morning” the importance of activating the manufacturing industry, particularly that Iraq had issued these petroleum products to the countries of the world and efficient outweigh its counterpart overseas, what leads to the activation of national industry and move all the joints of life and attract manpower unemployed, urging to reconsider structuring the administrative staffs and sagging existing state institutions, which drives the economic development and economic growth. In a related context Gas Company said Iran Engineering and Development said the completion of the pipeline that will carry natural gas from Iran to Iraq would be by March of next year.

The Director-General of the Gas Company, Iran Engineering and Development Ali Reza grippy in a press statement, initially will be delivered 7 million cubic meters per day of natural gas to Iraq, and increase it to 40 million cubic meters at peak times.  The pipeline, which will carry gas across stretches for a distance of 100 kilometers from the oil town of Kermanshah in a month on the border with Iraq.

alsabaah.iq

Share This Post

Recent Articles

© 2017 Iraqi Dinar Trader. All rights reserved.