South Gas Company, Shell and Mitsubishi today officially announced the commencement of operations of Basrah Gas Company, which will be the largest gas project in Iraq’s history and the world’s largest flares reduction project. Basrah Gas Company is a 25-year incorporated Joint Venture between Iraq’s South Gas Company holding 51% of its shares, Shell 44% […]
By John Lee. Azzaman reports that the flaring of associated gas from the country’s producing oil fields, particularly in Basra, is costing the country $5 million a day. But there is good news, according to Dhia al-Mawsawi, the Director-General of South Oil Company, who said there should be no flaring of gas in Basra by […]
Dow Jones reports that the gas capture project with Shell and Mitsubishi in Southern Iraq is expected to start production this year. The head of the South Gas Company, Ali Hussein Khudhier, told the news agency that they expect to produce 50 Mcfd of gas this year. He added that the floating LNG plant and […]
Reuters reports that Iraq's cabinet approved a $17 billion deal with Royal Dutch Shell and Mitsubishi on Tuesday to capture gas that is now being flared off in the oilfields around the southern oil hub of Basra. The 25-year venture is expected to help Iraq make use of more than 700 million cubic feet per […]
Iraq's Energy Commission announced on Monday that it has decided to postpone its meeting to discuss the Shell gas contract until next week, further delaying the long-overdue signing. AKnews reports that the commission, headed by Deputy Prime Minister Hussein al-Shahristani, announced last Wednesday that it would discuss the contract to develop and exploit the gas […]
Shell and Mitsubishi signed a final draft agreement with Iraq on Tuesday for a deal worth between $12 billion and $17 billion to capture flared gas at the southern oilfields. The long-awaited deal still needs the approval of Iraq's cabinet, Oil Minister Abdul-Kareem Luaibi [Elaibi] said in a statement. The Iraqi government will hold 51 […]
The Iraqi cabinet has delayed finalising a multibillion-dollar deal with Anglo-Dutch giant Royal Dutch Shell and Japan's Mitsubishi to capture gas from Basra's oilfields because of legal issues related to the joint venture, AKnews reports. The cabinet already approved the planned $12 billion investment in June, but it is now waiting to sign the final […]
