Page 12 - MEOG Week 12 2023

MEOG NEWS IN BRIEF MEOG

POLICY other countries, stated Owji, referring to the organisation, and we are committed to them,”
settlement of the issue with Turkmenistan, noting that “the ministry We are committed
Iran self-sufficient in whose relations with Iran had been strained to the organisation’s decisions regarding
oil exports and the reduction by about
for five years, and adding the volume of
constructing oil, gas exchanging gas between the two countries has 220,000 barrels per day until the end of 2023,
doubled.
according to the agreement.
refineries 900 elites of the Petroleum University of increase the export rate if the organisation
He added: “We have clear plans that can
He also pointed to the employment of
Iran has become self-sufficient in constructing Technology, indigenisation of technical know- approves its increase,” noting: “We forced
oil and gas refineries, said Oil Ministry Javad how, and achievement of self-sufficiency in some licensing companies operating in the
Owji here on Monday. construction of petrochemical plants, petro- south to reduce production in order to comply
Delivering speech during a ceremony - refineries, and supplementary industries. with OPEC decisions.”
marking the anniversary of Iran’s oil industry The number of knowledge-based Regarding gas, Abdulghani stated that
nationalisation - to inaugurate the first part companies, whose expertise is used by the “Iraq burns large quantities of gas and most of
of the second phase of a project aimed at government, has soared to 550 from 150, what is invested is 56 percent of the product,”
increasing and sustaining Abadan Refinery’s added the minister. noting that “most of the gas currently
production capacity, the minister said 31 Owji said Iran is currently producing over produced is associated with crude oil, so with
semifinished projects valued at 12 billion three million barrels of oil per day, vowing the increase in oil production, gas can be
dollars were put into operation in the Iranian two more refineries will become operational increased with gas, but it must That we have
calendar year 1401, which started on March in the new Iranian calendar year (starting a facility capable of investing gas to benefit
21, 2022. March 21, 2023) to increase the country’s from it, especially in the processing of power
The Ministry of Petroleum and refining capacity. stations.”
the National Iranian Oil Refining and Concluding his remarks, he said 260 He stated that “Iraq imports large
Distribution Company have given top million dollars have been allotted to Phase 3 quantities of gas from Iran, as it is the closest
priority to completion of partly-finished of Abadan Refinery. to Iraq,” pointing out that “the invested gas
and national projects, said Owji, adding the SHANA does not exceed 1,500 million cubic feet, and
newly-inaugurated project was among them, we have the possibility to increase it to higher
which had made 64 percent progress when Iraqi ministry discussed levels.”
the incumbent administration took office and He revealed an “ambitious plan to invest
the remaining 36 percent work was done in 18 sixth licensing round gas, especially in the southern fields, which
months. is now burning,” pointing out that “the Basra
More than 100 contractors participated in Oil Minister Hayan Abdulghani has set the Gas Company, a joint venture with the South
the project completion process, mentioned date for stopping the import of gas and the Gas Company and Shell, invests gas at a rate
Owji, continuing that the most complicated rest of the oil products, and while he indicated of up to 1,000 million cubic meters per day.”
job of Abadan Refinery Phase 2 was done in the existence of clear and ambitious plans He stated that “there is a facility under
an unprecedented measure during the period, to increase export rates, he announced the construction that has reached advanced
while oil exports had decreased and further details of the sixth licensing round. stages, and it is hoped that its installation will
sanctions had been imposed on the country Abdulghani said in a speech during be completed during the sixth month, which
when President Ebrahim Raeisi took office. a dialogue session within the Baghdad will increase the invested gas,” explaining that
Shifting to the incumbent administration’s International Dialogue program held “there are other units that will be installed and
energy diplomacy, the minister said some $5 in Baghdad and was attended by the operated during the next year.”
billion of foreign investments have been so far correspondent of the Iraqi News Agency And he indicated that “the Basra Oil
attracted to develop oil and gas fields. (INA), that “there are agreements with OPEC, Company can reach gas investment by 1,400
The country has signed gas contracts with as Iraq is the second oil producer in the million cubic meters,” noting that “within

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