Tuesday, December 17
A Ukrainian company will extract gas in Iraq, producing up to four billion cubic meters annually.
Monday, April 29, 2024
A Ukrainian company, Ukrzemresurs, which specializes in natural gas extraction, received a contract to develop the Akkas gas field in the western Iraqi province of Anbar.
According to the Minister of Oil of Iraq, Hayyan Abdul Ghani, during the first two years, the company has undertaken the extraction of one billion cubic meters annually, and in four years, this will increase to four billion cubic meters.
Ukrzemresurs received the contract after it was conceded by the Korea Gas Corporation (KOGAS). The rights to extract gas from the field were initially granted to a consortium of KOGAS and KazMunayGas from Kazakhstan in October 2011, but was then closed for many years due to safety risks.
Iraq’s proven natural gas reserves are among the largest in the world, estimated at over 3.8 trillion cubic meters as of 2018.
