annually, with expected financial losses of 3.65 billion dollars.
According Iraqi Oil statistics, the reserves of the gas in the country will reach to 137 trillion cubic feet, mostly produced with the production of crude oil.
The sources added that Iraq needs to invest about 40 billion dollars to get benefited from the burnt gas in the southern part of the country.
"It is expected that these investments will provide Iraq with revenues that will reach to 500 billion dollars in the coming twenty years, in addition to another 50 billion dollars from the gas as fuel for electricity generating stations", the sources confirmed.
According to International Energy Agency estimates last year, Iraqi gas reserves will reach to 90 trillion cubic feet and one billion cubic feet are burnt daily in the southern part of the country.