Iraq to announce sixth round of gas fields: PM Sudani
ERBIL, Kurdistan Region - Iraq’s Prime Minister Mohammed Shia’ al-Sudani on Wednesday said that his government is making preparations to announce the sixth round of gas projects in the country, adding that Chinese and Emirati companies will provide Iraq with gas.
“We are preparing to announce the sixth round of gas fields, which is happening for the first time in Iraq, in terms of natural gas investment,” Sudani said during a meeting with the Iraqi-American Business Council, according to a statement from his office.
“There are contracts with Chinese and Emirati companies that will provide us with half of the gas we import,” he added.
A deal signed between the Iraqi government and French TotalEnergies will see the energy giant build four projects for oil, gas, and renewables in southern Iraq in the span of 25 years. The contract was initially signed in 2021 but faced a delay due to disagreements over Iraq’s stake in the deal as Baghdad demanded a 40 percent share.
The deal, however, was agreed upon early April and TotalEnergies will have the lion’s share with a 40 percent stake of the so-called Gas Growth Integrated Project (GGIP), followed by Iraqi state-owned Basra Oil Company with 30 percent, and QatarEnergy with 25 percent.
“The Total agreement is one of the most important gas investment agreements and the development of oil fields, which will provide half of our gas needs,” Sudani said on Wednesday.
Iraq is still one of the world’s largest gas flaring countries. The flaring process is when oil wells burn the excess gas they can't store or use, and is a convenient way to deal with the waste product known as associated petroleum gas, however the process is among the main reasons for global climate change.
“We are preparing to announce the sixth round of gas fields, which is happening for the first time in Iraq, in terms of natural gas investment,” Sudani said during a meeting with the Iraqi-American Business Council, according to a statement from his office.
“There are contracts with Chinese and Emirati companies that will provide us with half of the gas we import,” he added.
A deal signed between the Iraqi government and French TotalEnergies will see the energy giant build four projects for oil, gas, and renewables in southern Iraq in the span of 25 years. The contract was initially signed in 2021 but faced a delay due to disagreements over Iraq’s stake in the deal as Baghdad demanded a 40 percent share.
The deal, however, was agreed upon early April and TotalEnergies will have the lion’s share with a 40 percent stake of the so-called Gas Growth Integrated Project (GGIP), followed by Iraqi state-owned Basra Oil Company with 30 percent, and QatarEnergy with 25 percent.
“The Total agreement is one of the most important gas investment agreements and the development of oil fields, which will provide half of our gas needs,” Sudani said on Wednesday.
Iraq is still one of the world’s largest gas flaring countries. The flaring process is when oil wells burn the excess gas they can't store or use, and is a convenient way to deal with the waste product known as associated petroleum gas, however the process is among the main reasons for global climate change.