Schlumberger launches development of Iraq's Akkas gas field
Khudair's statements came as he confirmed that multinational oil companies are increasingly seeking to invest and engage in Iraqi oil reserves, the state-run news agency (INA) reported.
In April, the Iraqi cabinet authorized the Midland Oil Company's quick development plan for the Akkas gas field in western Iraq. The Prime Minister's Office (PMO) said at that time that Schlumberger will carry out the initial phase of the field's development.
The gas field is estimated to produce 100 million standard cubic feet of gas per day within a year.
The Akkas gas field, discovered in 1992, contains around 5.6 trillion cubic feet of proven natural gas reserves.
The Oil Ministry's Undersecretary for Gas Affairs, Izzat Sabir, stated earlier that the project will supply a gas-operated power plant in the western Iraqi province with 100 million cubic feet of gas per day.
According to Sabir, this initiative will enable Anbar's power plant to generate 1,640 megawatts of electricity. This is part of a broader plan that aims to increase the gas field's production to 400 million cubic feet per day over the next four to five years.
The Akkas gas field, which has large reserves, was being developed by Korea Gas Corporation (KOGAS), a South Korean public natural gas firm, before Ukrzemresurs, a Ukrainian oil corporation, concluded a deal for the project.
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