(MENAFN- Iraq Business News)
By John Lee.
The South Gas Company (SGC) and Halfaya Gas Company (HGC) have signed a contract for the development and processing of gas from the Nahr Bin Umar field , with a capacity of 150 million standard cubic feet per day.
Deputy Prime Minister Hayan Abdul Ghani emphasized the project's contribution to the national economy through increased gas production, investment, and processing associated with oil operations. The initiative aims to reduce external imports, establish a liquefied gas export terminal at Umm Qasr Port, curb harmful emissions, and safeguard the environment.
A Ministry statement says the contract is a "Build, Own, Operate, Transfer" (BOOT) model, and is expected to create 5,000 job opportunities and prevent the release of over 8 million tons of pollutants into the atmosphere.
The Ministry's Gas Affairs Undersecretary, Ezat Saber, explained that this project, part of a series, intends to utilize associated gas from oil fields to support the energy sector and enhance national production. The General Manager of Southern Gas, Hamza Abdul Baqi, clarified that the contractual focus is on investment, assembly, and processing of 150 million cubic feet of gas, aiming to boost electricity and export surplus condensates and liquefied gas while reducing carbon emissions.
Representing Halafaya Gas Limited, Ahmed Al-Muhsin, stated that the contract aims to build, develop, transfer, and process 150 million cubic feet, expandable to 150 million more in the second phase.
According to the website of RASEP , part of the Baghdad-based Raban AI Safina Group of Companies : "The [Nahr Bin Umar] project is being developed by Halfaya Gas Company Ltd. (HGC) , a special purpose project company owned by RASEP, pursuant to a 15 years' BOOT contract with South Gas Company [SGC] (a subsidiary of the Iraqi Ministry of Oil)."
(Source: Ministry of Oil)
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