Iraq gas station energy storage project bidding

Will Iraq offer 10 gas exploration blocks to US companies?

Our Standards: The Thomson Reuters Trust Principles. Iraq plans to offer 10 gas exploration blocks to U.S. companies during an upcoming visit by Oil Minister Hayan Abdel-Ghani to the United States, he announced on Saturday.

Why did Iraq invite foreign companies to explore natural gas reserves?

REUTERS/Essam Al-Sudani/File Photo Purchase Licensing Rights June 18 (Reuters) - Iraq on Sunday invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks as the OPEC member seeks to produce much-needed natural gas for power stations and cut imports that weigh on the country's budget.

Will oil projects boost Iraq's oil and gas reserves?

Iraq's Oil Minister Hayan Abdel Ghani said the offered projects will boost the country’s oil and gas reserves. Reuters Iraq Prime Minister Mohammed Shia Al Sudani said his country is committed to “assuring a safe and stable working environment” and to remove “complicated routine and bureaucracy”.

Will Iraq launch a sixth bidding round to auction off gas blocks?

Iraq's oil ministry has ended preparation to launch a sixth bidding round to auction off the gas blocks, the ministry said, without setting a date for the bidding process.

Will Iraq launch a new gas investment project?

Abdel-Ghani also said Iraq will launch a new gas investment project by the end of the year at the Al-Faihaa oil field in southern Iraq. The project, with a capacity of 125 million standard cubic feet (mscf), is a key component of Iraq's strategy to enhance its energy infrastructure.

What does Iraq's New Oil & Gas Initiative mean for the energy industry?

The latest initiative follows recent agreements to develop 13 oil and gas blocks, aimed at increasing Iraq's crude and gas output to supply power plants, which currently rely heavily on Iranian gas imports. The Reuters Power Up newsletter provides everything you need to know about the global energy industry.