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A second resource other than oil ... Deputy: He can save $5 billion annually to the state treasury

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A second resource other than oil ... Deputy: He can save $5 billion annually to the state treasury

648 Economy 12/01/2020 18:44  ht
Baghdad today - special


A member of the Parliamentary Oil and Energy Committee, Ghayeb Muhammad, confirmed, Tuesday, December 01, 2020, that more than 5 billion dollars annually are burned in the skies of Iraq due to non-exploitation of gas burning operations during oil extraction and investment.

Muhammad said in an interview with (Baghdad Today), that "stopping the burning of natural gas during the operations of extracting and investing oil will save the state treasury more than 5 billion dollars annually," indicating that

"Iraq has huge reserves of natural gas that have not been utilized properly."

He added that "the existing reserves of natural gas in Iraq, can be exported if the process of waste and burning during oil extraction stops."

And Mohammed continued, "Iraq has a huge storage of natural gas, but it is still importing it for use in the country's power plants."

Earlier today, Tuesday, the Ministry of Oil confirmed that the beginning of 2023 will witness the completion of gas investment projects, and we will fold the burning gas process, reaching full production of about 2,700 (milling), one million standard cubic feet per day.

"The ministry has an integrated plan for providing gas to fuel stations, by investing in gas associated with oil production and gas fields," said Undersecretary Hamid Al-Zobaei, in a press statement.

He added, "The quantities of invested gas now reach 60 percent, and reach 1500 million standard cubic feet per day, which are prepared for power stations in a stable and steady manner," noting that

"the power stations need more than the current available quantity."

Al-Zobaie said that during "the year 2022, and the beginning of 2023, the projects that will end the burning gas file will be completed, and at the same time an amount of 1,200 million standard cubic feet per day will be added to be invested in electric power stations."

He explained, "During the year 2016, the complete plan for gas investment was drawn up, so it was 600 (muqmq), and now we have reached 1500 (muqmq), and the plans and projects are complete to reach a full investment, and the production will be 2,700 (muqmq) of gas associated with oil production."

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