Page 9 - MEOG Week 10 2023
P. 9

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.™

       Week 10   08•March•2023                  www. NEWSBASE .com                                              P9
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