Baghdad: Oil Minister Hayan Abdul-Ghani has revealed significant strides in Iraq’s gas production and investment strategies aimed at enhancing the flexibility of equipping power plants, contributing to the nation’s development trajectory.

According to National Iraqi News Agency, the Ministry of Oil is steadfast in its commitment to optimizing gas investment through the exploration and development of oil and gas fields. The Ministry has been actively participating in the Development Road project by implementing the strategic Basra-Haditha pipeline. Deputy Prime Minister, Minister of Oil Hayan Abdul-Ghani highlighted in a statement to NINA that the fifth supplementary round and the sixth licensing round encompassed 29 oil and gas fields along with exploration blocks. Contracts have been finalized with companies for 14 oil fields and exploration blocks, anticipated to yield over 675,000 barrels of oil per day alongside investing approximately 700 million cubic feet of gas, equating to 850 million cubic feet of gas daily.

The contracts involve development of several exploration blocks and fields, namely Al-Faw, Jabal Sanam, Sumer, Abu Khaima, Dima, Allan and Sasan, Al-Khulaisiya, Al-Qarnain, Zurbatiya, the (7) exploration block, Al-Dhafriya, the East Baghdad field, and the Middle Euphrates fields.

Further elaborating, Abdul-Ghani mentioned the presence of 15 promising gas exploration blocks, predominantly situated along Iraq’s western border, where substantial gas reserves are indicated. The Ministry is prepared to engage with any interested companies for investment in these exploration blocks to bolster gas production and supply to power plants.

In terms of infrastructure, the Minister of Oil underlined the Ministry’s role in the execution of the Basra-Haditha pipeline, a critical strategic asset with a 56-knot diameter extending over 675 kilometers. This initiative is set to enhance oil transportation between southern and northern Iraq, facilitating the supply to various refineries, either operational or under construction, within the central governorates such as Dhi Qar, Muthanna, Diwaniyah, Karbala, and Anbar. Additionally, it aims to redirect a substantial volume of oil to northern refineries amidst restricted production capacity in the northern fields.