Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul-Ghani, announced the activation of three contracts with the UAE’s Al- Hilal to develop three gas fields.
During the signing ceremony, the Minister stressed the importance of activating three contracts with the Emirati company Al- Hilal within the fifth licensing round to invest in gas in a quantity amounting to 400 million standard cubic feet from the fields (Khasham Al Ahmar, Kalabat, and Khader Al Mai).
The Minister of Oil said: “The government and the Ministry are keen to increase gas investment rates through implementing investment projects to develop fields and exploratory patches within the fifth licensing round whose contracts were signed with the companies that won the qualification last February 2023, noting the importance of using the invested gas to generate electrical energy.”
The Minister pointed out, “Activating these contracts will prevent the burning of gas, and the invested gas will be used to generate electrical power through mobile generating stations at field sites with the aim of supplying the national grid with good quantities of the invested gas.”
The Executive Director of Al-Hilal Petroleum Company, Abdullah Al-Qadi, said: “Today, it was announced that the contracts for developing the three fields with Basra Oil and Central Oil Company were to be activated in the presence of the Deputy Prime Minister for Energy Affairs, the Minister of Oil, and the agents and general managers of the two companies, stressing that Al-Hilal is proud of this positive event.”
He hoped that we would achieve all the desired goals by producing gas in large quantities within the shortest possible period to supply the gas industry in Iraq and generate additional electricity capacities. We are committed to Iraq in general and to the Ministry of Oil to implement contracts in accordance with the concluded contract.”
For his part, the Director General of the Central Oil Company, Qaddouri Abdul Salim, said that activating the contracts will provide dry gas for electric power generation stations, in addition to liquid gas (LPG), and these projects will support the national economy, noting that the fields (Khashm Al-Ahmar and Kalabat) are located in Diyala Governorate and will provide Job opportunities for the people of the governorate, and the company will directly implement work according to the agreed upon plans and programmes.
The Director General of the Basra Oil Company, Bassem Abdul Karim, said that all procedures have been completed by the Basra Oil Company and the Emirates Al-Hilal Company regarding the development of the (Khader Al-May) field in Al-Zubair district in Basra Governorate, within the fifth licensing round, indicating that the field is considered one of the exploratory fields, and it will begin carrying out seismic surveys, presenting their results, and learning about direct and implementation in the field, and today the activation of the signed contract was announced, adding that the field is of great importance because it is one of the most promising fields and is likely to contain large quantities of gas./End
Source: National Iraqi News Agency