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It includes 10 exploration blocks.. Oil reveals the details of the sixth licensing round

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It includes 10 exploration blocks.. Oil reveals the details of the sixth licensing round

Economy    Today, 15:08
Baghdad - Conscientious - Wissam Al-Mulla

Oil Minister Hayan Abdel-Ghani set, today, Sunday, the date for stopping the import of gas and the rest of the oil products, and while

he indicated the existence of clear and ambitious plans to increase export rates, he announced the details of the sixth licensing round.

Abdul-Ghani said in a speech during a dialogue session within the Baghdad International Dialogue program held in Baghdad and was attended by the correspondent of the Iraqi News Agency (INA), that

"there are agreements with OPEC, as Iraq is the second oil producer in the organization, and we are committed to them," noting that

"the ministry We are committed to the organization’s decisions regarding oil exports and the reduction by about 220,000 barrels per day until the end of 2023, according to the agreement.  He added,

"We have clear plans that can increase the export rate if the organization approves its increase," noting:

"We forced some licensing companies operating in the south to reduce production in order to comply with OPEC decisions."

Regarding gas, Abdul-Ghani mentioned that

"Iraq burns large quantities of gas and most of what is invested is 56 percent of the product," noting that

"most of the gas currently produced is associated with crude oil, so with the increase in oil production, gas can be increased with gas,

but it must That we have a facility capable of investing gas to benefit from it, especially for the processing of power stations."  He stated that

"Iraq imports large quantities of gas from Iran, as it is the closest to Iraq," pointing out that

"the invested gas does not exceed 1,500 million cubic feet, and we have the possibility to increase it to higher levels."

He revealed an "ambitious plan to invest gas, especially in the southern fields, which is now burning," pointing out that

"the Basra Gas Company, a joint venture with the South Gas Company and Shell, invests gas at a rate of up to 1,000 million cubic meters per day."  He stated that

"there is a facility under construction that has reached advanced stages, and

it is hoped that its installation will be completed during the sixth month, which will increase the invested gas," explaining that

"there are other units that will be installed and operated during the next year."  And he indicated that

"the Basra Oil Company can reach gas investment by 1,400 million cubic meters," noting that

"within the ministry's plan during the next five years, there will be a large investment in gas, which will lead to stopping the import of gas from Iran."

Regarding the licensing round contracts, he stressed that

"the fifth licensing round contracts included the border fields of the eastern side of Iraq, where we signed six contracts for six exploratory blocks," explaining that

"these fields will provide at least 750 million cubic meters of gas, which is a promising amount."  And he continued,

"The Mansouriya field will be put up for competition soon, but not alone, but within the fifth complementary licensing round, which includes four border fields for the eastern side of Iraq in addition to the Mansouriya field, which will take place in less than a month," explaining,

"The ministry's plan includes announcing another round." From licensing contracts for the western side, which extends from the Syrian-Jordanian-Saudi borders to Samawah Governorate.  He pointed out that

"there are more than 10 exploratory patches prepared by him, most of which are invasive," explaining that

"the ministry is in the process of preparing and preparing a bag of information for these fields, which does not exceed the seventh month of this year to announce them."  And he indicated that

"Iraq is supposed to be satisfied with the production of the three white products, gasoline, gas, and gas oil, and

it now imports more than half of the country's need for gasoline," pointing out that

"there is a promising plan in this field, and we are about to operate the Karbala refinery with a capacity of 140,000 barrels per day." Which will provide more than 50 percent of imported gasoline, in addition to gas oil and gasoline.  He stressed that

"the quantities of imported fuel will be reduced to a quarter of the need, and

we have some refining units in the south with a capacity of 90,000 barrels per day, and

if they are completed by the end of this year, we will stop importing oil products," noting that

"an investment opportunity for seven refineries will be announced soon." In northern and southern Iraq, especially in Mosul, Haditha, Samawah, Maysan, Dhi Qar and Wasit, where there will be an opportunity to participate in these opportunities for specialized companies.  He said,

"If all or part of it is invested, Iraq will be a source, with the improvement and development of the economic situation and employment of the labor force."

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