(MENAFN- Iraq Business News) By John Lee.
Iraq has signed a contract with Ukrainian company Ukrzemresurs to develop the Akkas gas field in Anbar Province.
According to a statement from the Ministry of Oil, the goal is to increase national production by an additional 400 million standard cubic feet per day (MMSCFD) of gas within four years, to supply power stations; 100 MMSCFD is planned in the first stage (1-2 years).
The Ukrainian company will replace the South Korean company Kogas in operating the field.
Rights to the field were originally awarded to a consortium of Kogas and KazMunaiGas (KMG) in the third licensing round (October 2011), but KMG pulled out , leaving Kogas as sole investor and operator on new contract terms.
Shafaq News Agency quotes Ali al-Mashkoor, a member of the parliamentary committee, as expressing concerns about this deal, describing the Ukrainian company as "weak", and mentioning suspicions regarding the deal.
The company does not appear to be well known. D&B lists it as registered in Kyiv, and headed by Maksym Yuriiovych Mustafin.
(Sources: Ministry of Oil, Shafaq News Agency, D&B)
The post Ukrainian company to Develop the Akkas Gas Field first appeared on Iraq Business News .
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