Iraq burns $ 2.5 billion a year

2018/4/15 0:05


World Bank reports reveal that Iraq is burning natural gas estimated at millions of dollars a year.
The World Bank said that Iraq hopes to end the burning of gas by 2021, costing his government about 2.5 billion dollars annually in the form of lost returns. "
The Oil Ministry announced on Saturday that 14 international companieshave shown interest in contracts for exploration for oil and gas is scheduled to be tender On April 25 related to the development of 11 exploratory areas located in areas along the border with Iran and Kuwait and in the waters of the Gulf in June
But the date was submitted to April 15 and extended to April 25 to give companies "more time to study the offers for this round before the submission of bids on the date specified , "according to the ministry.
the Ministry of Last month , oil measures to reduce the fees paid to oil companies in the contracts that will be covered by tender.
Companies such as Exxon Mobil, Eni, Total, Royal Dutch Shell and Lukoil helped Iraq expand its production over the past decade by more than 2.5 million barrels a day to about 4.7 million bpd.
The new contracts, put forward by the Iraqi government, set a deadline for companies to stop burning gas in the oil fields they develop.