The Ministry of Oil to Invest The Oil Wealth Perfectly Resulted for This Initial Agreement to Invest The Gas.
Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil declared for an agreement with Oren American Company to invest the flare gas which is associated with the oil up-streaming from Bin-Omar oil field in Basrah governorate.
Mr. Al-Luiebi said that the fruitful efforts of the ministry of oil to invest the oil wealth perfectly resulted for this initial agreement to invest the gas. He said also that it is supposed to sign the memorandum of understanding within the next few days between the Investor Company and Basrah Gas Company.
It is worthy to say that the field is considered as one of the promising fields in the south of Iraq, which is being developed by depending on the national efforts. The field produces about 40 thousand barrels/ day of crude oil and 25 MSCF of gas/ day.
Source: Ministry of Oil
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