Iraq has signed a significant agreement with Schlumberger to develop the Akkas gas field, as part of its broader efforts to boost domestic gas production.
Under the terms of the contract, Schlumberger will undertake drilling operations at the Akkas field with an initial objective of increasing output to 100 million standard cubic feet per day (mmscfd), according to Oil Minister Hayan Abdel Ghani.
The ultimate production target for the field, located in the western province of Anbar, is set at 400 mmscfd — a sharp rise from the current output of 40 mmscfd. However, no specific timeline was provided for reaching this target.
“This is a long-awaited and significant achievement,” Minister Abdel Ghani stated during the signing ceremony. He added that further contracts will be executed for the construction of surface infrastructure and pipelines to transport gas from the wells to central processing facilities.
Gas produced from the Akkas field will supply the Anbar combined-cycle power plant, currently under development by the Ministry of Electricity, the minister confirmed.
Originally, rights to develop the Akkas field were awarded in 2010 to South Korea’s state-owned Korea Gas Corporation (KOGAS), which signed a development contract in 2011. However, progress stalled when the field was seized by ISIS; it was later recaptured by Iraqi forces in 2017.
In 2024, Ukraine’s Ukrzemresurs was awarded a development contract, but the deal was terminated months later due to project delays.
Although Iraq is OPEC’s second-largest oil producer, it remains heavily reliant on neighboring Iran for electricity, importing around 50 million cubic meters of natural gas and 500 megawatts of electricity daily.
The U.S. has urged Iraq to reduce its energy dependency on Iran, which has been under U.S. sanctions since 2018. In response, Iraq has intensified its efforts to harness its domestic natural gas resources. The country’s proven natural gas reserves are estimated at approximately 3,714 billion cubic meters, according to figures from the Ministry of Oil.
Source: The National News