Iraq energy storage project bidding

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”.

What is the value of Iraq's gas growth integrated project?

Value of the deal was not disclosed. The developments fall under Iraq’s Gas Growth Integrated Project, which aims to up the country’s power generation capacity and gas production. The French energy giant signed the USD 27-billion contract to begin construction of four energy projects in the country in July 2023.

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 build Mansuriya gas field for 25 years?

A contract was signed to develop the 4.5 trillion cubic feet Mansuriya gas field for 25 years. On Wednesday, Iraq and China's Hualu Engineering also signed an agreement to construct the 300,000 barrel-per-day Al Faw refinery in country’s south, the Iraqi government said.

Will a new oil contract help Iraq's energy crisis?

Crude demand growth is set to fall by 63 per cent from 2023 to 620,000 bpd this year, the IEA said in a report earlier this year. The latest contracts could help Iraq harness its vast natural gas resources, which are key to addressing the country’s chronic electricity shortages, especially during hot summers.

Are US oil companies involved in Iraq's oil crisis?

There were notably no U.S. oil majors involved, even after Iraqi Prime Minister Mohammed Shia met with representatives of U.S. oil firms during an official visit to the United States last month. Five bids were won on Saturday by Chinese companies.