From Texas.. Al-Sudani details energy projects and talks about a new thought in exploiting wealth
Shafaq News – Iraqi Prime Minister Mohammed Shia Al-Sudani on Thursday dismissed energy projects to be implemented in the country, while noting that his government had pursued a new thought in exploiting wealth.
This came during the prime minister’s meeting with major American companies specialized in the field of oil and gas, at a round table held by the Arab-American bilateral chamber of commerce in Houston, Texas, as part of his official visit to the United States, according to a statement to Shafaq News.
The Sudanese reviewed the government’s program and its objectives towards optimal investment for oil and gas, and its future vision, and touched on the most prominent strategic projects being implemented in Iraq, as well as investment opportunities for specific projects, and the promotion of the fifth supplementary and sixth round, which includes 30 oil and gas fields and a gas exploration pater in Anbar, Nineveh, Diwaniya, Najaf and Muthanna.
The Iraqi Prime Minister announced the extension of the application for the annex to the fifth round and the sixth round for two weeks; to give the opportunity to companies wishing to apply, stressing that “Iraq is witnessing a stable security situation throughout it.”
Al-Sudani called on American companies to engage in partnerships with the Iraqi private sector, which receives the attention and support of the government, pointing to the comprehensive development that Iraq is witnessing in all sectors.
He continued: “We came up with a vision of the form of the relationship with the United States, after the understandings and the meeting of President Biden, to be based on partnership and openness in all fields. Our vision is based on mutual interests, and you will be strongly present through joint work, especially the presence of companies and investment in opportunities in Iraq.”
He pointed out that “Iraq is of great importance in the energy market in terms of production and reserves, and the difficult conditions and previous challenges prevented it from reaching the optimal investment stage of wealth.”
“We have recently approached self-sufficiency in the oil derivatives we have been importing during previous years,” he added, adding: “Our government began with a new thinking about exploiting wealth, by increasing productive capacity and investing associated gas, and going to the manufacturing industries in petrochemicals and fertilizers.”
Al-Sudani stressed that he developed a plan to convert 40% of Iraq’s exports into oil derivatives,” pointing out that “importing gas costs the government $4 billion annually, while the burning is equivalent to 1300 million standard cubic feet, with the negative effects it leaves on the environment.”
He pointed out that his government is working on “implementing a solar power plant with an amount of 1000 MW, in addition to the project of injecting wells with water,” noting that “the fifth round has projects implemented by the Emirati (Al Hilal) and a Chinese company, in addition to the national effort, and it is planned to reach 2400 million standard cubic feet during this specified period.
Al-Sudani added: “We are presenting specific projects, including the annex projects of the fifth and sixth rounds, and we will extend the period to 15 days to provide the opportunity to apply for the tours,” noting that “the sixth round includes patches and fields rich in free natural gas.”
The Iraqi Prime Minister said that his government is introducing (integrated projects), including oil extraction, the investment of associated gas, and the establishment of a power plant, a refinery and petrochemical industries, explaining that “the opportunities for integrated projects are offered in the fields; Dima in Maysan, Ibn Omar in Basra, the fields of Architecture and the Kamit in Maysan, and an exploratory daqqa in Dhi Qar.”
“There are opportunities to establish petrochemical and fertilizer complexes in Karbala, the FAO Petrochemical Complex, and the Nebras project, after Shell apologized for a new direction by the company in focusing on gas projects,” he noted.
Al-Sudani concluded, “We developed the idea of establishing a petrochemical and refinery complex in Ain Sokhna in Egypt, according to understandings, and now we have started implementing the first phase (Basra – Modern), which will use with the flexibility of transporting exports, and can be an economic model that brings together 3 countries, for this important and vital project.”
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