Iraq develops energy infrastructure through Siemens Energy, Schlumberger partnerships
(MENAFN) The Iraqi Ministry of Oil recently took a significant step towards enhancing the country's energy infrastructure by signing a memorandum of understanding with Siemens Energy and Schlumberger. This memorandum outlines plans for investment in and processing of associated gas from oil fields, with the primary objective of supplying gas to electricity stations. Hayyan Abdul Ghani, the Iraqi Oil Minister, emphasized the ministry's commitment to implementing an accelerated plan to harness and process gas quantities from oil fields, leveraging the advanced technology capabilities of these partnering companies.
Abdul Ghani highlighted the broader strategic implications of the memorandum, noting its alignment with efforts to bolster Iraq's energy sector. In addition to the memorandum with Siemens Energy and Schlumberger, another significant agreement was signed between Siemens and the Ministry of Electricity, further underscoring collaborative initiatives aimed at strengthening Iraq's energy infrastructure.
This latest development builds upon a previous agreement between Iraq and Siemens Energy, initiated in March, which focused on converting gas that is typically burned off during oil production into a valuable fuel source for electricity generation. The agreement encompasses approximately 240 million standard cubic feet of gas annually, representing a substantial opportunity to maximize the utilization of resources within the oil extraction process.
The memorandum and associated agreements reflect a broader campaign within Iraq to capture and utilize gas that would otherwise be wasted during oil extraction activities. By leveraging partnerships with leading energy companies and deploying advanced technologies, Iraq aims to optimize its energy resources, enhance energy security, and meet growing electricity demands. These efforts align with broader objectives to diversify the country's energy portfolio, reduce reliance on conventional fuel sources, and promote sustainable energy practices for long-term economic and environmental benefits.
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