Iraq is currently engaged in negotiations with Halliburton to advance the development of the oil sector within the Nahr Bin Omar field in Basra. This initiative aligns with the broader strategy to maximize gas investment in the region.
A senior official from the Ministry of Oil highlighted that while the gas contract for the field has already been signed and work is underway, discussions are ongoing to expand efforts on the oil side. The objective is to ensure that oil extraction and gas utilization projects complement each other for optimal resource management.
The gas project at Nahr Bin Omar is expected to produce approximately 300 million standard cubic feet per day in two phases. However, the establishment of necessary gas facilities requires significant time, with a minimum estimated period of three years for completion and full operational capacity.
This development marks an important step in Iraq’s efforts to enhance its energy sector by increasing production efficiency and leveraging international expertise to maximize the potential of its natural resources.