OPEC oil producer Iraq has launched a project at a key oilfield to tap its associated gas reserves for use as feedback for its power facilities.
Halfaya Gas Company, an affiliate of the Iraqi Raban Al-Safina Group, is developing Nahr bin Omar field in the Southern oil hub of Basra.
The Iraqi News Agency and other local news networks said on Monday that the project was launched on Sunday and it involves the production of 150 million cubic feet a day (cf/d) of gas in phase 1, to rise later to 300 million cf/d.
“The field has a production capacity of 400,000-500,000 bpd of oil….it will produce 300 cf/d of gas when the project is completed,” project manager Munir Abu Aziz said.
Aziz said around 120 million cf/d would be used for power generation, adding that this would allow Iraq to reduce reliance on gas imports from Iran.
Discovered in 1948, Nahr bin Omar Field has proven oil deposits of around 6.6 billion barrels, according to Iraqi estimates.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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