Iraq signs contract with General Electric to invest gas




July 13, 2017

Baghdad - Journal News

The Iraqi Oil Ministry on Thursday signed a contract with General Electric to invest dry gas, condensates and liquid gas in two fields in southern Iraq.

Oil Minister Jabbar Ali al-Allaibi said that the ministry is continuing to implement its strategic plans to secure the financial revenues of the treasury of the Iraqi state and the development of the oil industry.

Al-Obeibi said the project represents a qualitative step in the process of gas investment and will be carried out in two phases: the first to implement a gas drying and compressing plant (70-100 million standard cubic feet per day), the second phase of the project and the construction of a new gas liquids plant with a capacity of 200 million standard cubic feet Daily.

The minister added that the project will contribute to stopping the burning of gas in the fields of Nasiriyah and Al Gharaf, as well as providing dry gas for use as fuel for power plants and reducing the use of heavy fuel in these stations, which helps to enhance the efficiency of electricity production and reduce environmental damage.

He added that the project will produce hundreds of thousands of tons of gas liquids annually in the form of LPG and condensate and export surplus to global markets, which will return large revenues to the state treasury, as well as the production of liquid gas.

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