(MENAFN- Iraq Business News) By John Lee.
Iraq has signed a memorandum of understanding (MoU) with Siemens Energy and Schlumberger to invest in and cease flaring associated gas from oil fields.
This effort aims to convert the gas into productive energy to supply power stations and the national grid.
During the signing ceremony, Mr. Hayan Abdul Ghani, the Deputy Prime Minister for Energy Affairs and Minister of Oil, said this collaboration intends to implement the accelerated plan to invest in and process associated gas from oil fields, utilizing the advanced technology possessed by these companies. He also mentioned another MoU signed by Siemens with the Ministry of Electricity to support the energy sector.
Mr. Maximilian Rasch, the Charge d'Affaires at the German Embassy, praised the mutual cooperation between the two countries, expressing his country's support for Iraq to improve its energy situation and reduce emissions, expressing hope for more contracts in other areas.
Mr. Mohannad Al-Safar, the General Manager of Siemens Energy Iraq, stated that this memorandum marks the beginning of joint cooperation with the ministry to cease flaring and process gas for electricity generation, contributing to energy security, reducing imports, and preserving the environment.
Mr. Ezat Saber, the Deputy Minister for Gas Affairs, indicated that the memorandum aligns with the government program and the Ministry of Oil's efforts to accelerate gas investment and increase national production, as part of a pivotal plan towards enhancing energy security and reducing operational expenses.
Mr. Wissam Al-Adham, the General Manager of Schlumberger Iraq, highlighted that Siemens and Schlumberger will work on providing suitable solutions and studies to enhance sustainable energy using the latest technologies.
Mr. Assem Jihad, the Ministry of Oil's spokesperson, emphasized that these projects represent a significant step in Iraq's journey towards sustainable energy.
(Source: Ministry of Oil)
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