(MENAFN- Iraq Business News)
By John Lee.
The Iraqi Prime Minister has said that Iraq will achieve self-sufficiency in gas within three years.
Speaking at the final signing ceremony of the contracts for the fifth licensing round on Tuesday, Mohammed Shia Al-Sudani said the cost of importing gas is up to 10 trillion dinars [$6.8 billion] annually.
Iraq also imports oil derivatives, although it is a producer and exporter of oil.
He added that the Ministry of Oil to preparing the remaining fifth-round contacts, and that there will be a sixth round to invest more associated gas and natural gas assets.
The remaining, un-awared blocks from the fifth round are as follows:
Zurbatiya [Zurbatia], in Wasit and Diyala Shihabi in Missan and Wasit Fao, in Basra Jebel Sanam [Jabal Sanam], in Basra Offshore Gulf block
(Source: Media Office of the Prime Minister)
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