By John Lee.
The Council of Ministers has approved an accelerated plan to develop the Akkas gas field in Anbar as part of the government's strategy to advance the oil and gas sector.
The project will be led by the state-owned Midland Oil Company (MdOC), with Schlumberger (SLB) implementing the first phase.
The field is expected to produce 100 million standard cubic feet of gas per day within one year.
Rights to the field were originally awarded to a consortium of Kogas and KazMunaiGas (KMG) in the third licensing round (October 2011), but KMG pulled out, leaving Kogas as sole investor and operator on new contract terms.
In April 2024, Iraq signed a contract with a little-known Ukrainian company called Ukrzemresurs to develop the field, replacing Kogas.
Industry experts, including, Iraq Business News Expert Blogger, Ahmed Mousa Jiyad, have questioned the wisdom of this decision.
There was no mention of Ukrzemresurs in Wednesday's announcement from the Prime Minister's Office.
(Source: PMO)
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