Baghdad – IA
Today, Sunday, the Ministry of Oil announced the signing of a contract for gas investment and processing in the Nahr Bin Omar field.
The Ministry stated in a statement received by the (INA), that “today, a contract for investment and processing of gas in the “Nahr Bin Omar” field was signed between the South Gas Company and the Halfaya Gas Company Limited under the patronage of the Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani.” .
During the contract signing ceremony, Abdul-Ghani stressed “the importance of a contract for investing, developing and processing gas from the Nahr Bin Omar field with a capacity of (150) mqmq (one million standard cubic feet per day), with the possibility of adding another (150) mqmq for the second phase according to the requirements and availability of the required quantities.”
He added, “This project contributes to supporting the national economy by increasing the production, investment, and processing of gas associated with oil operations, and reducing foreign imports, in addition to establishing a port to export liquid gas and condensates in the port of Umm Qasr, in addition to stopping harmful emissions and preserving the environment,” noting. To “the importance of this contract, which provides (5,000) job opportunities, and prevents the release of more than (8) million tons of pollutants into the atmosphere.”
For his part, the head of the National Investment Authority, Haider Muhammad Makiya, said: “This investment project represents an important tributary and support for the national economy,” expressing his hope “to increase these projects that are in the interest of Iraq.”
In turn, the Undersecretary for Gas Affairs, Izzat Saber, explained, “This contract is in the (Boot) format, meaning build, own, operate, transfer ownership, and the duration of completing the first phase is (36) months,” pointing out that “this project comes within a series of The contracts concluded by the Ministry aim to invest all the quantities of gas accompanying the oil fields, to support the energy sector and enhance national production.
Meanwhile, the Director General of the South Gas Company, Hamza Abdel-Baqi, confirmed that “the form of the contract is investment, and aims for the contracting company to invest, collect and process a quantity of (150) cubic meters of gas that is currently burning in the Nahr Bin Omar field in Basra Governorate, which aims to increase production to support The electric energy sector, exporting surplus condensates and liquid gas outside Iraq, and reducing carbon emissions.”
The representative of the Halfaya Gas Company Ltd., Ahmed Al-Mohsen, pointed out that “the contract aims to build, develop, transport and treat burned gas in a quantity of (150) megatons, which can be increased to (150) megatons for the second phase,” indicating that “the project will stop the release of (8) million tons of gas.” pollutants into the atmosphere, in addition to providing (5,000) job opportunities.”