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Two Chinese and Emirati companies win the development of gas fields in Iraq


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Two Chinese companies and an Emirati company won the development of gas fields in Iraq during the fifth final licensing round, which took place in the capital city of Baghdad.

RT correspondent said that GEO-JADE has won a contract for the exploration, development and production of the Khana oil field in Diyala governorate, as well as the development and production of the Hawize field in Maysan governorate.

He added that the Sindbad field in Basra province was transferred to UEG for development and production, and the Calabat Fajr field in Diyala province was transferred to Emirati Crescent Oil for development and production in addition to the Khashm Al Ahmar field. in Diyala, which was also taken over by the same company for development and production.

Our correspondent noted that the Khidr Al Maa block in Basra province was also transferred for exploration, development and production to Emirati Crescent Petroleum.

Iraqi Prime Minister Muhammad Shia al-Sudani said during the signing ceremony: “We congratulate everyone on the final signing of the fifth round contracts, which has been awaited for five years, and which has cost Iraq millions of dollars and negative environmental damage to its citizens.”

He added: “The Cabinet’s decision for this year was based on the recommendation of the Council of Energy Ministers and confirmation of what was included in the government’s program to allocate a direction for investment in associated gas in line with our vision for economic reform.”

Al-Sudani pointed out that “reform in the oil sector is the optimal investment of oil wealth, and Iraq’s entry into the world gas market is an option that we have planned and will implement, and the abnormal situation cannot continue by burning gas, which wastes wealth and damaging the environment.”

He added: “One of the main causes of the electricity crisis is the lack of fuel. We import gas worth 10 trillion dinars a year, and today Iraq even imports oil products, although it is an oil producer and exporter. we will work on signing contracts for the creation and investment in oil refineries, and we will reach self-sufficiency in gas.” Within 3 years to cover all our needs.

Source: RT

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