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Iraqi gas exports to start no earlier than 2018

Oil&Gas Materials 26 September 2012 07:57
Iraq will launch natural gas export volume production by the end of 2017 and only start gas exports in 2018, Iraqi Oil Ministry official representative Asim Jihad reported to Trend on Monday.
Iraqi gas exports to start no earlier than 2018

Azerbaijan, Baku, Sept.24 / Trend A.Tagiyeva/

Iraq will launch natural gas export volume production by the end of 2017 and only start gas exports in 2018, Iraqi Oil Ministry official representative Asim Jihad reported to Trend on Monday.

In his words, the Oil Ministry doesn't carry out necessary procedures to implement the fifth tour of hydrocarbon field licensing, which will cover exceptionally gas fields.

" Iraq has rich natural gas resources. The purpose of the tender is transformation of Iraq into the major gas producer by 2017",- Jihad said.

He also noted, that blocks will be constructed in western part of the country, and also techniques of gas consumption from southern oil fields are going to be developed.

Iraqi Oil Ministry will send invitations with tender terms to the world oil companies for participation in tender on investigation of gas fields. The ministry is going to simplify some procedures to involve a greater number of applicants to the tender.

In the framework of the fourth tour on the issue of licenses on investigation and development of oil and gas fields to foreign companies, declared previously by Iraqi Oil Ministry, the licenses were issued to 3 consortiums headed by the Russian LUKOILI, Turkish TPAO and Pakistan Petroleum respectively.

The fourth round of license issuing on development of oil and gas fields took place in May 30 and 31 of this year with participation of 47 international companies from different countries of the world.

According BP, the proved Iraqi gas resources amounted 3.6 trillions of cubic meters as of late 2011.

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