04 Jan 2011
(MENAFN) Abdul-Mahdy Al Ameedi, an official at Iraq’s Oil Ministry, said that the country is expected to sign a contract with two foreign companies later this month, in order to develop its Akkas natural-gas field in Al Anbar province, Reuters reported.
According to Al Ameedi, who is Deputy Director General at the ministry’s Petroleum Contracts and Licensing Directorate, revealed that on November 14, the ministry had planned to sign a deal with Korea Gas Corp (Kogas), and Kazakhstan’s state fuel producer, KazMunaiGaz National Co., to produce 400 million standard cubic feet of gas a day at Akkas.
The mentioned field is the largest of three fields for which the government awarded development licenses in October, Al Ameedi added.
After years of conflict and economic sanctions since the 2003 US-led invasion, oil output has hovered at around 2.4 million barrels per day (bpd). Thus Iraq, which sits on the world’s fifth-largest crude reserves, is seeking foreign investment to help it increase production of gas as well as oil, and has awarded 12 licenses for oil developments and three for gas since then, said the official.
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more