Iraqi Ministry of Oil partners with Siemens Energy, Schlumberger to tap associated gas from oil fields
(MENAFN) In a significant development for Iraq's energy sector, the Iraqi Ministry of Oil has inked a memorandum of understanding with global giants Siemens Energy and Schlumberger. The primary objective of this collaboration is to invest in and process associated gas extracted from the country's oil fields. This strategic initiative aims to harness the extracted gas to supply electricity stations across the nation, thereby enhancing energy production and distribution capabilities.
Speaking on the occasion, Iraqi Oil Minister Hayyan Abdul Ghani underscored the ministry's commitment to executing an accelerated plan to maximize the utilization of gas resources from oil fields. He emphasized the pivotal role played by the advanced technology and expertise possessed by Siemens Energy and Schlumberger in achieving this goal. Additionally, Minister Ghani highlighted another memorandum signed by Siemens with the Ministry of Electricity, further bolstering support for the energy sector in Iraq.
This recent collaboration builds upon Iraq's earlier agreement with Siemens Energy, established in March, which focused on converting gas previously flared during oil production into fuel for electricity generation. The agreement, covering approximately 240 million standard cubic feet of gas annually, reflects Iraq's broader initiative to capture and effectively utilize gas resources that would otherwise be wasted during oil extraction processes.
Overall, these partnerships signify a concerted effort by Iraq to harness its natural resources more efficiently and sustainably, thereby bolstering its energy infrastructure and contributing to national development objectives.
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