A Ministry of Oil statement has announced that the Basra Gas Company aims to increase gas production from current production levels of 900 million standard cubic feet per day (mcf/d) to 1,050 mcf/d by the end of the year.
Iraq's gas development project, which involves the production of gas from the country's southern oilfields of Rumalia, Zubair and West Qurna 1, is also aiming for further increases to capture and process 2,000 mcf/d.
The 25 year, $17 billion project involves a joint venture between South Gas Company (51% stake), with Shell holding a 44% stake and Japanese company Mitsubishi holding the remaining 5% stake.
With Iraq currently reliant on gas imports from Iran to fuel power stations and generate electricity, increases in gas production will be vital for domestic use. Iraq has also recently signed agreements with Siemens and General Electric for major overhaul and development of the country;s power industry.
Source: Ministry of Oil