The Ministry of Oil announced today, Sunday, that Iraq’s oil reserves rose to more than 160 billion barrels, while noting that 22 international companies competed for gas field development projects, stressing that Iraq achieved self-sufficiency from liquid gas and began exporting the surplus.
“The fifth and sixth supplementary licensing round comes in line with the government program, which aims to optimize the investment of oil and gas wealth,” the ministry’s spokesman, Asim Jihad, told the official agency.
He added, “The ministry aims to maximize national production, especially from the hydrocarbon and gas compositions found in the ground,” noting that “there are 22 global companies competing for projects to develop these fields.”
“Most of the competitive exploration patches are gas exploration patches, so this will support Iraq’s energy sector,” he noted.
Jihad stressed that “the Ministry of Oil has achieved important steps in optimal gas investment projects in Maysan Governorate by 300 maqqat and in Dhi Qar Governorate / Nasiriyah and Al-Gharaf by 200 million standard cubic feet per day.”
He continued, “The contracts concluded by the ministry regarding the Nahran Omar field will provide 300 million standard cubic feet in two stages, while the contract with Total will provide 600 million standard cubic feet per day.”
He pointed out that “the fifth licensing round will achieve more than 800 mqm or one million standard cubic feet of gas, in addition to the effort of the Basra Gas Company, where the gas investment reached 1200 million standard cubic feet per day.”
“It is hoped that 200 million standard cubic feet will be added this year, and therefore in total Iraq aims to achieve self-sufficiency to support the energy sector and reach the stage of self-sufficiency,” he went on.
He stressed that “Iraq has achieved self-sufficiency in liquid gas, and the surplus of it was exported out of the country,” noting that “this step is important in strengthening the Iraqi national economy.”
According to him, “the government effort has focused during the last period on intensifying exploratory operations, and thus this will maximize the Iraqi oil reserves,” but saying: “It is hoped to announce during the coming period that the Iraqi oil reserves will rise to more than 160 billion barrels, which will enhance Iraq’s role in the global oil market.”
Regarding the activities of the fifth supplementary licensing round and the sixth for the second day, Jihad explained that “the activities of the second day included competition for 11 fields and an exploratory patch, and these patches and fields began in the Abu Khanta field in Muthanna Governorate, which was referred to the Chinese company Zinoa.”
Jihad added: “Now the competition is taking place for the Anz booat in Anbar Governorate, and the competition will be taking place today for patch No. 7 in Diwaniyah Governorate, the Al-Dhafriyah field in Wasit Governorate, Raqa Somer Governorate in Muthanna Governorate, Tel Hajar in Nineveh Governorate, Al-Khanahah in Salah Al-Din Governorate and from him in Anbar, Raqa No. 11 in Najaf Al-Ashraf, Al-Anbar Arqat in Anbar Governorate and Saleh Qaleh Qal’at field in Maysan.”
He expressed the hope that “these projects will be referred to the competing international companies, and in order to achieve a great transition in this context,” tomorrow “the competition will be for another set of fields and exploration patches.”
On Saturday, Prime Minister Mohammed Shiaa Al-Sudani sponsored the ceremony of announcing the licenses of the fifth supplementary round and the entire sixth round, which includes a total of 29 projects for oil and gas exploration fields and patches, distributed among 12 governorates.
