Iraq News Now

Shafaq News / The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani, announced on Wednesday the completion of the draft of the gas investment project for the Nahran Bin Omar field in Basra governorate. The project is set to be referred to the Ministerial Council for Energy and then to the Cabinet for approval.

During a meeting of the advisory body to discuss the project's draft, a technical presentation was made by the committee responsible for covering the technical and contractual aspects, according to a statement from the Ministry of Oil.

The statement quoted Abdul Ghani as saying that the gas investment from the Nahran Bin Omar field is considered one of the promising major projects in the gas investment field. It has a capacity of 300 million standard cubic feet per day and will be implemented in two phases: 150 million cubic feet for raw gas and 150 million for sour gas. The project will also produce substantial quantities of natural gas liquids and condensates.

He further explained that this project will be executed using the "Boot" investment model and will be carried out by specialized international companies in this field. This project aligns with the government and ministry's plans for gas investment to enhance national production.

On behalf of the ministry, spokesperson Asim Jihad stated that this project includes establishing gas gathering stations, processing units, pipeline networks, reservoirs, water stations, electricity generation stations, a platform, and an export port.

The project aligns with the government program, contributing to stopping gas flaring and environmental pollution by converting it into clean energy. It aims to cover a significant portion of the local demand for dry gas for power stations and all industries related to this type of fuel.

Additionally, it intends to export surplus liquefied gas and condensates abroad to generate substantial financial revenues for the state treasury.