Iran Energy News Oil, Gas, Petrochemical and Energy Field Specialized Channel
Related Articles
Following Saudi Arabia as the second-largest oil producer in OPEC, Iraq said on Tuesday that it will grant 30 new oil and gas projects in its fifth+ and sixth licensing rounds.
At the ADIPEC energy conference in the UAE capital, Abu Dhabi, an official from the Iraqi Ministry of Oil said that 16 new projects were included in the fifth+ licensing round, some of which were not granted in the fifth licensing round.
14 projects would be included in the sixth licensing phase, the Iraqi official added.
The Iraqi government seeks to attract foreign and local companies to invest in oil and gas projects in Iraq through licensing rounds.
TotalEnergies entered into a contractual commitment to carry out four large energy projects as part of a deal concluded with the Iraqi government last July.
The first of the four projects is the use of seawater to support oil extraction operations.
The second project is the Gas Growth Integrated Project (GGIP), which aims to improve Iraq’s electricity supply by recovering flared gas at three oilfields to supply power plants, helping to reduce the country’s import bill, according to Reuters.
The third project is to develop the Artawi oilfield to increase its production capacity to more than 210,000 barrels per day.
The fourth project is to develop a 1-gigawatt solar power plant to supply southern Iraq with electricity.
