 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
Baghdad (AFP) Nov 14, 2010 Iraq on Sunday initialled draft agreements with Turkish, Kuwaiti and Korean energy firms to develop two of three gas fields auctioned last month, an oil ministry spokesman said. The deals were with a consortium made up of Turkey's TPAO, Kuwait Energy and Korean Gas Corporation for the Mansuriyah field in Diyala province, northeast of Baghdad. A draft agreement with Kuwait Energy and Korean Gas Corporation for the Siba field in Basra, Iraq's southernmost province. "The initialling of draft agreements was done on Mansuriyah and Siba but Akkaz was delayed until after Eid," spokesman Assem Jihad told AFP, referring to the Muslim festival of Eid al-Adha, which concludes on November 20. "The companies (that bid to develop Akkaz) asked for more time to clarify some points." Iraq's cabinet still needs to approve the agreements before they can be officially signed. Mansuriyah has estimated reserves of 127 billion cubic metres (4.5 trillion cubic feet) of gas, while Siba has 34 billion cubic metres (1.5 trillion cubic feet). The Akkaz field in Anbar province, west Iraq, is the country's biggest with reserves of 158 billion cubic metres (5.6 trillion cubic feet) and was auctioned off to Korean Gas Corporation and Kazakhstan's KazMunaiGaz. Iraq needs the energy revenues from the increased production to cut down on unemployment -- running at 28 percent, according to the United Nations -- and provide much-needed electricity to end routine power rationing. Iraq's current gas production -- all of it associated gas from oil wells -- is 1.5 million cubic metres a day, but half is burned off in flares from oil wells, according to Baghdad-based analyst Ruba Husari.
Share This Article With Planet Earth
Related Links Powering The World in the 21st Century at Energy-Daily.com
Miner to drill beneath Sydney for gasSydney (AFP) Nov 14, 2010 Miners will drill under central Sydney hoping to strike what is believed to be a vast natural gas reserve the government Sunday said could reduce the Australian city's carbon footprint. Steve Whan, primary industries minister for the New South Wales region, confirmed that Macquarie Energy would begin exploratory drilling in the next few months at St Peters, a heavily populated suburb near th ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook
