Sponsored by RCP - OGV Energy
International

Iraq awards Akkas gas field development contract to Ukrainian firm

Iraq awards Akkas gas field development contract to Ukrainian firm

 

The Iraqi Ministry of Oil announced on Wednesday. April24, signing a contract with the Ukrainian company UKRZEMRESURS to develop the Akkas gas field in Al-Anbar Governorate, western Iraq, reported the Shafaq News.

Oil Minister Hayan Abdul Ghani said the contract aims to produce 100 million standard cubic feet per day (mcf/d) in the first two years, rising to 400 mcf/d in 4 years.

The announcement came during the signing ceremony attended by Minister Abdul Ghani, the state-owned Midland Oil and North Oil Company, the Petroleum Contracts and Licensing Directorate, and Ukrzemresurs.

The ceremony also witnessed the signing of a concession contract by the Korea Gas Corporation (KOGAS) company in favor of the Ukrainian company.

Mohammed Yassin Hassan al-Obaidi, the General Manager of the Midland Oil Company, said, “the concession of the Korean company to the Ukrainian company to execute and invest in the Akkas field project, represents a significant step towards gas investment, especially in the western region due to its large gas reserves.”

The field was abandoned by South Korea’s state-owned Korea Gas Corporation (Kogas) after it was captured by ISIS militias during the war eight years ago.

Discovered in 1992, Akkas field contains around 5.6 trillion cubic feet of proven natural gas deposits, according to Iraqi estimates.

 

Published: 25-04-2024

Share:

Subscribe for the Latest News and Updates

Marketing Permissions

OGV Energy will use the information you provide on this form to be in touch with you and to provide updates and marketing through the following methods:

  • Email
  • Direct Mail
  • Customised Online Advertising

OGV Energy - Issue 89 Subsea

Read the latest issue of the OGV Energy magazine

More News

Latest Magazine Banner

Marine and Lifting - OGV Magazine - Issue 87

WellPro Group Banner

Cegal Banner

Leyton Banner

Advertise with OGV Energy Banner