IRAQ'S SIBA GAS FIELD TO START PRODUCTION BY YEAR END Iraq, August 30, 2017

[Wiljor]

Iraq, August 30, 2017 

Iraq's Siba gas field will start production by the end of the year, according to officials.

The gas field in Basra province is the only one in southern Iraq and is expected to produce 100 million cubic feet of gas per day when it reaches its full capacity.

The director of the gas field, Asaad Abood said the facility will start with 25 million cubic feet of gas a day.

First discovered in 1968, Siba is estimated to hold 1.1 trillion cubic feet of gas.

A contract for the field was awarded to a consortium of Kuwait Energy, Turkish Petroleum and Iraqi state-owned South Oil Company after a licensing round in 2010.

Last year, the Kuwait-based producer transferred 20 per cent of its stake to the Egyptian General Petroleum Company.

The director of Egypt's state-owned Petrojet said Egyptian nationals were working on the project.

About 18 new wells are expected to be drilled over the life of the field.

nrttv

 

http://iraqdailyjournal.com/story-z15836809

[Hotcurl]

Sounds like more MOOOOLa, aka $$$$

Semper Fi

GO RV

[Goggles]

[unirod]

Is there any production quotas on LP Gas ? I have never read of any. So this seems a very lucrative way to make up for any shortfall in GDP for Iraq. It's too bad these idiots wasted years of LP by burning it off because of tribal and sectarian bickering!

Edited August 31, 2017 by unirod
make more accurate

[Jmcc]

44 minutes ago, unirod said:

Is there any production quotas on LP Gas ? I have never read of any. So this seems a very lucrative way to make up for any shortfall in GDP for Iraq. It's too bad these idiots wasted years of LP by burning it off because of tribal and sectarian bickering!

LP gas is a derivate of natural gas that comes from the ground. Natural gas can be separated into natural gas, LP gas, and butane. But they need a separator to do that. Yes, they have burned off a lot of money in the past. But, as I was growing up next to the oil patch in the US we did the same. The gas was burned off. A lot of well pumpers found a way to distill the gas into what was known as drip gas and used it in the trucks they drove. The gas has to be pressurized in order to move it from point A to point B and keep it in liquid form. So burning off the pressure in years past would allow the oil to come to the pump better. Lord knows how much gas has been burned over the years from all countries that produce.  Just have to have the facilities to move it to market. In order to do that you need a pipeline and a buyer on the other end. So maybe this piece of news means that Iraq will start using it's own to power the generators for the people. Instead of relying on Iran for their gas. Just my thoughts. Yes, I'm in the gas business.

[ChuckFinley]

Helps to add to the overall value of the dinar, if they can remember what that looks like.  

[lifes journey]

ha ha good one maybe if we send them a picture of it they will hopefully use it.

but this is good news i agree alot more money for them ,but Im thinking use some of it to ay off Kuwait and get chpt.7&8 done then restructure then rv what do ya all think?

PS Chuck have a great holliday!

[ChuckFinley]

30 minutes ago, lifes journey said:

ha ha good one maybe if we send them a picture of it they will hopefully use it.

but this is good news i agree alot more money for them ,but Im thinking use some of it to ay off Kuwait and get chpt.7&8 done then restructure then rv what do ya all think?

PS Chuck have a great holliday!

You too, going to keep my distance from the road ways. You know it is going to be crazy.