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.
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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