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Iraqi Oil Ministry, US company to sign deal to extract gas from Basra

Iraqi Oil Ministry, US company to sign deal to extract Basra gas
The Iraqi Oil Ministry said it is set to sign an agreement with US energy company Orion to extract natural gas at an oil field in the south of the country, Radio Free Europe reported.

It pertains to the Nahr Bin Omar field in energy-rich Basra governorate. It now produces 40,000 barrels of oil a day.

Iraqi officials have been in talks with US energy giant Exxon and Chinese companies over further developing oil production in the field.

Iraq is looking to rebuild its energy-production infrastructure after years of war against ISIS.

On January 18, Iraq signed an agreement with British energy company BP to more than double output from oil fields in the northern Kirkuk governorate that was retaken from Iraqi Kurds last year.

Iraqi forces retook several oil fields in Kirkuk after the Kurds voted for independence in September in a referendum opposed by Baghdad.

Last Modified: Tuesday، 23 January 2018 05:50 PM