PHOTO
OPEC member Iraq plans to end gas flaring by mid-2029 due to mega projects awarded to foreign oil giants over the past two years, its oil minister has said.
Hayan Abdul Ghani said, "The Iraqi government is determined to end gas flaring by mid-2029….gas utilisation projects are progressing firmly."
He added that the 14 gas contracts signed during the 5th and 6th licensing rounds would boost Iraq's gas production by 700-800 million cubic feet per day.
Iraq hopes to be self-sufficient in gas by mid-2029, with the rate of gas exploitation having rapidly increased from 53 percent to nearly 74 percent over the past two years.
"The TotalEnergies contract alone will provide about 650 million cubic feet of gas per day, in addition to the Akkas and Mansuriya projects," he told the Iraqi News Agency (INA).
Last month, French oil major TotalEnergies launched the second development phase at Iraq's Ratawi oilfield, starting construction on an accompanying seawater treatment plant as part of the final stages of a $27 billion multi-energy project that will nearly double gas production by 2028 and eliminate routine flaring of gas, according to a Reuters report.
Additionally, Baker Hughes has announced an agreement with Halfaya Gas Company (HGC) to strengthen their collaboration on an innovative flare gas recovery system at the Bin Umar gas processing plant in southeastern Iraq.
In June, Zawya Projects reported that gas development projects awarded to BP, TotalEnergies, and other oil majors will save Iraq nearly $17 billion per year by reducing gas flared during the production process at key oilfields.
(Writing by N Saaed; Editing by Anoop Menon)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
