PHOTO
Image used for illustrative purposes, employee walks at Mashivske gas field 400 km (248.5 miles) east of Kiev, December 23, 2008. The Russian gas export monopoly Gazprom has threatened to cut off gas supplies to Ukraine, saying it must pay off debts of $2 billion by the end of the year. Ukraine's state energy company, Naftogaz, said it no longer had any arrears for imported gas and warned it would be difficult to ensure the transit of gas through its territory to Europe if Russia cuts supplies. Picture taken December 23, 2008. REUTERS/Konstantin Chernichkin
OPEC producer Iraq intends to invite global firms to submit bids for the development of a southern onshore oilfield as part of a drive to tap its massive gas resources, Iraq’s Oil Minister was quoted on Thursday as saying.
Hayan Abdel Ghani said in a statement published by Aliqtisad News network that the aim is to produce around 150 million cubic feet of sweet gas per day and an equivalent amount of sour gas from Nahr bin Umar field in the southern Basra city.
Ghani said the project would be awarded on BOOT (build-own-operate-transfer) basis and that production could also include liquid gas and condensates.
Oil Ministry spokesman Asim Jihad said the project includes the construction of gas gathering facilities, storage tanks and pipeline networks to supply gas to power stations.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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