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At a cost of 3 billion dollars ... Oil announces the approval of the investment plan for the Basra Gas Company Time: 05/03/2021 15:12:58 Read: 1,404 times {Economic: Al Furat News} The Minister of Oil, Ihssan Abdul Jabbar Ismail, announced, on Monday, the launch of large investments amounting to 3 billion dollars to develop the gas industry and invest in the Basra Gas Company in support of the national economy. The Minister of Oil said, in a press conference attended by the correspondent of Al Furat News, that "this came to implement a group of projects aimed at increasing production from (1000) mqmq per day to (1,400) mqmqs per day up to the total capacity of 2,400 mqmqm through the implementation of projects to invest and produce dry gas for the period (2021-2025) ''. He pointed out that "the rate of increase in production that will be achieved (40 percent), this came during the press conference held by the Ministry of Oil to approve the major investment plan for the Basra Gas Company." The Minister of Oil stated, "An investment plan of 3 billion dollars to implement a group of projects for the Basra Gas Company is a major achievement that is mainly recorded to support the government," stressing, "The ministry and government are keen to direct the national economy towards a sustainable economy, by launching investments in the gas and energy sector." . He added that "near-term future plans will strengthen the refining or transformative industries and the petrochemical industries, and the Nebras Petrochemical Project is one of the most important projects that will be implemented thanks to the availability of gas," describing the current situation of the Basra Gas Company as "excellent", hoping that "the partners will make exceptional efforts and develop Strategies that lead to the development and increase of invested capacities. " The Minister of Oil confirmed that "the ministry has other projects to invest gas in the governorates of Dhi Qar, Maysan and Mansouriya, and the crutch project, and the agreement with Total, which is one of the most important agreements in 2021, which is hoped to enter into force at the end of this year." For his part, Undersecretary for Gas Affairs, Hamid Yunus, stated that "the target plan for gas investment is a five-year plan to invest 3 billion dollars for a period of five years," noting that "the main project is Basra (NGL) in two stages to reach the production of 1400 reactors to support the dry gas network." National and also contribute to increasing the quantities of liquid gas produced. " The General Director of the Southern Gas Company, Hamza Abdul-Baqi, said, "With the continuous support and attribution of the Minister of Oil, despite the economic and health conditions, the necessary financial liquidity, amounting to 3 billion dollars, was provided over the next five years to implement plans and projects to raise production rates in the Basra Gas Company to reach 1,400 Moqmqs per day. Through the implementation of the Basra Project (NGL), which will be implemented in two phases, ending in 2025, each phase with a capacity of 200 workers per day. "The increase in production rates will supply electric power plants and increase their production, and the rates of liquid gas production will increase to 7,000 tons per day, and the condensate production rates will increase by 30,000 barrels per day," Abdel-Baqi said. The director of Shell in Iraq and the UAE, Ali Al-Janabi stressed, "reaching an important stage of gas production in the Basra Gas Company, and we will reap its fruits within the next two or three years," noting that "the gas sector is the soul of the Iraqi economy because it enters the electricity and industry sector, and expressed his thanks." For the support provided by the Minister and the Ministry for the sustainability of work and production. Deputy General Manager of the Basra Gas Company, the port of Kazem, also reviewed the company's scope of work, which includes 17 gas compressors, 4 natural gas treatment plants, one port for the export of condensate and liquid gas, and a gas storage complex, noting that “the company is investing and processing 900 million standard cubic feet per day, Which provides 3.5 kWh produced from treated dry gas to supply more than 3 million homes with electricity, as well as securing 80% of cooking gas for Iraq, and that Iraq has become an exporting country for liquid gas after it was an importer of the material. He added that the 2021 action plan aims to add CABSAT. Gas with the aim of collecting additional quantities of gas from the fields of the first licensing rounds, and completing the Basra natural gas treatment project, which will increase the production capacity of the Basra Gas Company from 1,000 to 1,400 million standard cubic feet per day, and increase the export quantities of LPG from 30,000 tons to 70 One thousand tons per month. " "The Ministry of Oil has made strides in the field of optimal investment of gas associated with oil operations, and has begun implementing projects to develop the Mansouriya gas field and has talks to develop Akkas gas field in Anbar province," said the ministry’s spokesman, Asim Jihad, and that what has been approved today regarding the major investment plan for a gas company Basra is a great addition to the gas investment sector in Iraq. " Wafa Al-Fatlawi