A large gas project Iraq will sign with a consortium led by Royal Dutch Shell PLC (RDSA) on Sunday will start production in 2013, a senior Iraqi oil ministry official said Friday.
A large gas project
Iraq
will
sign with a consortium led by Royal Dutch Shell PLC (RDSA) on Sunday will start
production in 2013, a senior Iraqi oil ministry official said Friday.
Ali Hussein Khudhier, head of the state-run South Gas Co., an affiliate of the
Iraqi Oil Ministry, also said the deal, worth up to $17.2 billion, will be able
to utilize all the gas being burned now by 2017.
Iraq
is
currently producing some 1 billion cubic feet a day of gas from southern oil
fields, but some 700 million of them are being flared because of lack of
infrastructure.
"We won't have any flared gas in 2017," Khudhier told Dow Jones
Newswires on the sideline of an oil and gas conference and exhibition in
Basra
,
southern
Iraq
.
Khudhier said new gas compressors have already been contracted for purchase,
and they will be ready in 2013.
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