Iraq increases gas production

Oil&Gas Materials 8 January 2013 18:04 (UTC +04:00)

Azerbaijan, Baku, Jan. 8 / Trend, A. Tagiyeva /

Iraqi gas company Basrah Gaz intends to increase production of associated gas up to 700 million cubic feet per day, spokesman for the Iraqi Oil Ministry Asym Jihad told Trend on Tuesday.

"In March 2013, the Basrah Gaz Company will produce 700 million cubic feet of gas per day in cooperation with Shell and Mitsubishi," Jihad said.

After gas consumption in Iraq is met by local production, Iraq will launch gas exports to the world market.

Earlier, Jihad told Trend that by the end of 2017, Iraq will produce volumes of natural gas necessary for export, and will start exporting gas in 2018.

He said the oil ministry carries out the necessary procedures for holding the fifth round of hydrocarbon deposit licensing, which will cover only the gas fields.

Jihad noted that blocks in the western part of the country will be put up for tender, and technique for using associated gas from southern oil fields will be developed.

According to BP, Iraq's proven gas reserves amounted to 3.6 trillion cubic meters as of late 2011.