“Iraq has a potential gas reserves estimated at 170 trillion cubic feet,” Maliki said in a speech during the opening of the Second Summit of the Gas Exporting Countries Forum in Moscow briefed by “Shafaq News”.
Maliki pointed out that Iraq began the implementation of a broad program to develop the oil and gas sector that has resulted in “a significant increase in proven oil reserves of more than 150 billion barrels, accompanied by a significant increase in gas reserves”.
“We launched this year , the fifth cycle of licensing that target gas exploration in different parts of Iraq, according to the conducive conditions and arrangements for investors to enable them to develop direct commercial discoveries, as the latest studies notes the possibility of doubling the current gas reserves for it contain of potential reserves estimated at about 170 trillion cubic feet”.
“Developing the power of crude oil production capacity according to the average scenario will produce 9.0 million b / d and will be associated with gas ranging between 6-7 million standard cubic feet per day”.
“The international institutions such as the International Atomic Energy Agency predicts an annual growth of gas production in Iraq up to a minimum of 10% which is the highest growth rate among all the gas-producing countries,” Maliki said.