Page 9 - MEOG Week 10 2023

MEOG POLICY & SECURITY MEOG

Iraqi minister reiterates

gas expansion intention

IRAQ DURING a meeting with the Parliamentary Oil, a new licensing round aimed at maximising
Gas, and Natural Resources Committee, Iraq’s national gas production.
Minister of Oil emphasised the government’s Speaking during the signing ceremony for
and the ministry’s commitment to supporting the fifth licensing round, Abdulghani empha-
investment projects in associated and free gas, sised the government’s keenness to invest in
exploration, refining industries and infrastruc- gas and refining industries, noting that the next
ture development. bid round would produce 250,000 barrels per
He noted that these sectors are a priority in day (bpd) of crude oil and aim to raise national
the government’s programme and the Ministry production of free and associated gas by 800mn
of Oil’s (MoO) plans. cubic metres per day of gas.
Despite facing challenges and security, eco- Iraq remains highly reliant on neighbour-
nomic and health difficulties in recent years, the ing Iran for gas for its power stations despite
ministry has made significant progress in imple- well-documented pressure to reduce this
menting promising projects, and the Prime dependency both from domestic and interna-
Minister and government support its plans, said tional parties.
Deputy Prime Minister for Energy Affairs and However, last month, Iraq’s state-owned
Minister of Oil Hayan Abdulghani. Basra Oil Co. (BOC) signed a memorandum
Abdulghani noted that the next stage will of understanding (MoU) with the National Ira-
bring a significant breakthrough with the nian South Oil Co. (NISOC) – a subsidiary of the
announcement and implementation of several National Iranian Oil Co. (NIOC) – to increase
investment projects in the gas, refining, explora- cross-border collaboration.
tion and field development sectors. According to a joint statement to press, the
The Minister of Oil stressed the importance deal is “aimed at promoting joint co-operation
of collaboration between the legislative and between the two companies in the areas of explo-
executive authorities for the benefit of the public. ration, production and development of oil and
The meeting was attended by the chair- gas.”
man and members of the Oil, Gas, and Natural They will “work together on a range of initia-
Resources Committee in the House of Repre- tives, including the exchange of technical exper-
sentatives, as well as several officials from the tise, the joint exploration of oil and gas fields, and
ministry. the development of new projects in the energy
The comments follow Abdulghani’s recent sector”, while a framework has also been estab-
announcement that plans are underway for lished for research and technology transfer.™

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