Doha, Qatar— Qatar is keen to obtain rights for oil and gas exploration in Iraq, according to Iraq’s oil minister who was speaking at the Qatar Economic Forum.
Iraqi Oil Minister Hayan Abdel Ghani confirmed that Qatar is interested in participating in obtaining rights for oil and gas exploration in his country, which were announced today at the Qatar Economic Forum.
He told Qatar News Agency (QNA) that the forum was an opportunity to announce a number of energy projects that Iraq wants to develop in the coming period, especially the fifth and sixth rounds that include 19 blocks in the western side of the country.
The minister said that he discussed activating a number of projects in Iraq with Minister of State for Energy Affairs, President and CEO of QatarEnergy Saad bin Sherida Al Kaabi.
In February this year, Iraq signed deals with UAE firm Crescent Petroleum and two Chinese companies for the development of six oil and gas fields as it seeks to produce much needed natural gas for power stations and cut imports burdening the country’s budget.
United Arab Emirates-based Crescent Petroleum signed three 20-year contracts to develop oil and natural gas fields in Iraq’s Basra and Diyala provinces in northeastern Baghdad.
The Crescent Petroleum contracts include the Gilabat-Qumar and Khashim fields in Diyala, which are expected to begin producing 250 million standard cubic feet per day of natural gas within 18 months, the company said.
Crescent Petroleum also plans to explore and develop Khider al-Mai, a third block in Basra province for oil and gas.
China’s Geo-Jade also signed two contracts for exploration and development rights to Iraq’s Huwaiza oilfield in the south and Naft Khana northeast of Baghdad, both near the Iranian border.
In Qatar, the Iraqi oil minister called on international companies to participate in these rounds, given the role these investments play in generating electricity and securing financial resources for Iraq.
Qatar Energy had agreed to own a 25 percent stake in the Gas Growth Integrated Project in Iraq (GGAT), which aims to develop natural gas resources in the country.
The project’s coalition is 30 percent owned by Basra Oil Company, with 45 percent owned by TotalEnergies, and QatarEnergy with 25 percent.
This was achieved after wrapping up all contractual requirements and obtaining regulatory approvals.