The Deputy Prime Minister for Energy Affairs and Minister of Oil announced the importance of activating three contracts with the Emirati company Al Hilal within the fifth licensing round for gas investment in a quantity amounting to 400 million standard cubic feet from the fields (Khasham Al-Ahmar, Kalabat, and Khader Al-May).
This came during the signing of the contracts to activate the aforementioned fields and sites, confirming the agreement with Al Hilal Emirates to complete the development and investment process within an accelerated completion period of one and a half years.
Deputy Prime Minister for Energy Affairs and Minister of Oil, Mr. Hayan Abdul-Ghani, said that the government and the ministry are keen to increase gas investment rates through implementing investment projects to develop fields and exploratory patches within the fifth licensing round whose contracts were signed with the companies that won the qualification last February 2023, noting the importance of using Gas invested in generating electric power.
The Minister indicated that activating these contracts will prevent the burning of gas, and the invested gas will be used to generate electrical power through mobile generating stations at field sites with the aim of supplying the national grid with good quantities of the invested gas.
The Executive Director of Crescent Petroleum, Abdullah Al-Qadi, said that it was announced that the contracts for developing the three fields with the Basra Oil and Central Oil Companies had begun to be activated in the presence of the Deputy Prime Minister for Energy Affairs, the Minister of Oil, the Undersecretaries and the General Directors of the two companies, stressing that Al-Hilal Company is proud of this positive event and we hope that To achieve all the desired goals by producing gas in large quantities within the shortest possible period to supply the gas industry in Iraq and generate additional electricity capacities. We are committed to Iraq in general and to the Ministry of Oil to implement contracts in accordance with the concluded contract.
For his part, the Director General of the Central Oil Company, Mr. Kadouri Abdel Salim, said that activating the contracts will provide dry gas for electric power generation stations, in addition to liquid gas (LPG), and these projects will support the national economy, noting that the fields (Khashm al-Ahmar and Kalabat) are located in Diyala Governorate. It will provide job opportunities for the people of the governorate, and the company will directly implement work according to the agreed upon plans and programmes.
The Director General of the Basra Oil Company, Mr. Bassem Abdul Karim, said that all procedures have been completed by the Basra Oil Company and the Emirati company Al-Hilal regarding the development of the (Khader Al-May) field in Al-Zubair district in Basra Governorate, within the fifth licensing round, indicating that the field is considered one of the exploratory fields, and will begin. He carried out seismic surveys, presented their results, and learned about the direct implementation and implementation in the field. Today, the activation of the signed contract was announced, adding that the field is of great importance because it is one of the most promising fields and is likely to contain large quantities of gas.
The signing event was attended by the Undersecretary for Extraction Affairs, Mr. Bassem Muhammad Khudair, the Undersecretary for Distribution Affairs, Mr. Ali Maaraj, and a number of officials from oil companies and the Ministry’s center departments.
