Iraq, eager to supply natural gas to its overburdened power plants, signed agreements with Korea Gas Corp. (036460), Kuwait Energy Co. and Turkiye Petrolleri AO to develop two gas fields.
The three companies secured rights to develop the Mansouriya field in Iraq’s eastern Diyala province, while Turkiye Petrolleri and Kuwait Energy won a license for the Siba field in southern Basra province, Oil Minister Abdul Kareem al- Luaibi said. The government awarded rights to both deposits in October, together with a license to a third field called Akkas.
“Iraq needs to develop these fields in order to provide for the needs of its electricity stations,” Luaibi said today during the signing ceremony in Baghdad and in the presence of Turkish Energy Minister Taner Yildiz. “Iraq also aims to become a major source for gas in the future,” the Iraqi minister said.
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