Iraq awarded its first pilot project financed by carbon credits last year to capture associated gas in the East Baghdad oil fields, the Ministry of Oil said on Monday.

The project will process 12 million standard cubic feet per day (scf/d) of associated gas, the Minister of Oil Hayan Abdul-Ghani, was quoted as saying.

Iraq has set a target of reducing its annual methane emissions by about 30 percent and carbon emissions by about 37 tonnes by 2030.

In December 2017, Reuters had reported that Iraq inked an initial deal with China's state-run Zhenhua Oil to develop the southern portion of the East Baghdad oilfield.

(Writing by Majda Muhsen; Editing by Anoop Menon)


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