By John Lee.
Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has announced an agreement with an American company to invest in the flare gas associated with the Nahr Bin Umar oil field in Basra governorate.
The Ministry names the company as "Oren", but Iraq Oil Report identifies it as the Houston-based Orion Gas Processors.
A memorandum of understanding is expected to be signed between the company and the Basrah Gas Company (BGC) in the coming days.
Orion says its "innovative patented and patent-pending technologies extract hydrocarbons from underutilized gas streams, creating stable liquids that may be blended into the oil stream. High extraction yields combined with knowledge-based blending creates superior economics for oil producers over competing technologies."
According to the Ministry, the field produces about 40,000 barrels of crude oil per day (bpd), and 25 MSCF of gas per day.
(Source: Oil Ministry, Iraq Oil Report)