Kuwait, Iraq hire consultant to assess oil production potential in border areas
Kuwait and Iraq have chosen a consultant to assess areas with oil reserves on the border between the two countries and production policy will be decided based on the study, Thamir Ghadhban, Iraq’s oil minister said on Sunday during a meeting at the Organization of Arab Petroleum Exporting Countries in Kuwait, according to Reuters.
Although Iraq is ranked as the world’s fourth largest oil producer, it is suffering a power crisis. Last summer was challenging, with high temperatures and power cuts.
During the summer, the Iraqi provinces suffered about 12 hours of power cuts.
Iraq produces 15.7 gigawatts of electricity, while 23 gigawatts are required to ensure power is not cut off, which is likely to rise due to continuous increase in demand.
Shortage of gas supplies makes the matter worse. This has been caused as a side effect of the counter-terrorism operations.
The Iraqi government is aware of how big the challenges are. Therefore, the national development plan from 2018 to 2022 aims to increase production capacity to 53 gigawatts.
Achieving this objective will require the participation of the government and international and local companies.
General Electric is one of Iraq’s oldest energy partners. It says that 2.1 gigawatts can be added by next summer, which is enough to power 2.1 million Iraqi homes.
One way to achieve this is to maintain and increase the efficiency of the electricity infrastructure, which is one of the targets of the Ministry of Electricity.
Another energy-saving source is a technology inspired by aircraft engines, which are power plants on wheels. They take only months to install. While the goal of these solutions is to ensure a better summer for Iraqis next year, they are not enough in the long term. Source