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Iraq is expanding its efforts to fully exploit its energy wealth

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Iraq is expanding its efforts to fully exploit its energy wealth
Economical 06/12/2024
Baghdad: Haider Falih Al-Rubaie
Most international oil companies have intensified their efforts to work and invest in Iraq,
especially after the large facilities granted by the government to those companies in the fields of oil and gas,
which recently resulted in the investment of dozens of new blocks and fields in various governorates of Iraq during the fifth and sixth complementary licensing rounds, which constituted a qualitative shift in The field of increasing oil production, exploiting gas wealth, and providing thousands of workers, as well as the importance of these tours in enhancing development rates and increasing the country’s financial revenues.
To enhance Iraq's capabilities in various fields of energy, the Prime Minister, Muhammad Shia Al-Sudani, during his meeting with the CEO of the Chinese PetroGina Company in the Middle East, Dai Houliang, confirmed Iraq's interest in developing gas projects, within the government's program to develop the manufacturing and fertilizer industry, indicating that this matter It will give the economy added value and provide job opportunities.  
Al-Sudani also explained, according to a statement issued by his media office, that the presence of Chinese companies in various sectors, including the oil sector, enhances the trend to develop relations between the two countries, pointing to the associated gas project that he opened earlier this week in Maysan Governorate and which is being implemented by PetroGina, as one of the projects.
The strategy between the two countries, as it falls within the government’s priorities in stopping the waste represented by burning gas, expressing his thanks for the efforts of all those working in this project, stressing that
there are sites that will be presented to companies, especially the integrated energy implementation project, which includes the
     production of oil and associated gas,
     treatment plants, and a
     power station. And a
     petrochemical refinery.
The percentage of gas quantities invested in Iraq rose, according to Oil Minister Hayyan Abdul-Ghani, during his talk on the “Duty of Frankness” program, which is shown on Al-Iraqiya News and followed by the Iraqi News Agency (INA), to 63 percent,” indicating that
“the quantities of gas invested reached 1,900 million cubic feet.” The minister added that
a thousand million cubic feet of gas is burned daily,” stressing that
“the burning of gas will stop completely for the period from 2028 to 2030,” noting that
Iraq will not need to import gas in the future,” noting that
“the Okaz field produces 60 million cubic feet of gas.” He continued,
Iraq’s gas reserves are estimated at 140 trillion cubic feet,” pointing out that
gas is considered the cleanest type of energy and fuel currently, noting the addition of refining capacity estimated at 360 thousand barrels per day during the life of the current government.”
The project that was opened in Maysan, according to the official spokesman for the Ministry of Oil, Assem Jihad, during his speech to “Al-Sabah” constitutes a step towards investing in all fields that contain gas, revealing that the gas investment project in the Halfaya field by PetroGina will amount to 300. A thousand mouthfuls a day.
In the midst of this, the Chinese company believes, in the words of its Deputy Director General, that
Iraq has today become more open to developing the oil sector, indicating that
government efforts in this aspect represent a positive message to all oil companies, stressing that
there is a trend to shift to the use of renewable energy by relying on technology in Various projects managed by the company.” Jihad told “Al-Sabah”:
Iraq seeks to strengthen its economic and oil relations with various international companies, and
     is trying with all its energies to invest in gas fields and
     exploit that wealth to strengthen the economic and development reality in the country,” noting that
“the Ministry, within Its plans are working to exploit and invest all the fields that are expected to add new quantities of associated gas.
The official spokesman for the Ministry of Oil also stressed that the plans drawn up by the Ministry in this field include exploiting and investing in hydrocarbon exploratory patches to enhance Iraq’s capacity in this aspect and not waste “This is national wealth,” stressing that
the Ministry continuously calls on all international companies to invest in underground gas fields or associated gas.
In light of the great global interest in the field of investing oil wealth in Iraq, PetroGina, the giant of the Chinese oil industry, expressed its happiness to work and invest in Iraq,
indicating its endeavor to shift to the use of renewable energy (zero carbon) in all areas of work that it manages based on technology.
The Deputy Director General of the company, Yank Tao, said during his meeting with a number of journalists and representatives of study centers, that
Iraq today has become more open to developing the oil sector, and that
the government’s introduction of this number of projects in the field of oil and gas confirms the great openness in this sector, and
it is a positive message to various stakeholders.” International companies.”
The Deputy Director General also expected future expansion of investments with Iraq in the fields of oil and gas, noting that
China is currently the largest partner and supplier of oil with Arab countries, stressing
the company’s tendency to use the highest technology techniques in research and exploration operations.
The spokesman confirmed that PetroGina, also within its social orientations, worked to build many roads, donate to schools, and hire hundreds of Iraqi employees.   
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