Iraqi Oil Ministry In Talks On Investment In Basra, Maysan Gas Fields - Spokesman

Iraqi Oil Ministry in Talks on Investment in Basra, Maysan Gas Fields - Spokesman

Iraq's Oil Ministry is negotiating contracts on investment into gas production at fields in the southern Basra and Maysan provinces, the ministry's spokesman, Assim Jihad, told Sputnik on Saturday.

BAGHDAD (UrduPoint News / Sputnik - 05th January, 2019) Iraq's Oil Ministry is negotiating contracts on investment into gas production at fields in the southern Basra and Maysan provinces, the ministry's spokesman, Assim Jihad, told Sputnik on Saturday.

"The ministry is conducting talks, including on investment in gas in Maysan fields and some underfinanced gas-rich fields in the Basra province. We expect to settle the matter by signing gas investment deals," he said.

The Iraqi spokesman declined to say firms from which countries were involved, but added that contracts struck under the previous government had not been finalized and would be revised by the new cabinet.

The Oil Ministry is also waiting for a study of Kirkuk oil fields commissioned to UK's BP energy giant. Iraq's state-run North Oil Company signed a deal with BP last May to develop oil fields in the north.

"It is now being researched by BP. After it completes the study, the ministry will conduct its own assessment," the official said.

The Iraqi government hopes to gradually increase output at Kirkurk oil fields to a total of almost 1 million barrels per day. The region was recaptured from Kurdish separatists last October.

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