Iraq aims to utilize 78% of produced gas for investment by year end

Iraq has agreed to reduce oil exports to 3.3 million barrels per day (bpd) after exceeding an OPEC quota [File: Asaad Niazi/AFP]

The Ministry of Oil in Iraq revealed plans on Tuesday to make use of 78% of all produced gas in the country for investment purposes by the end of the current year. 

Deputy Minister of Oil for Gas Affairs, Azat Saber Ismail, shared with the Iraqi News Agency (INA) that the Halfaya project, boasting a capacity of over 300 million standard cubic feet per day, will be launched this month. 

Currently, 65% of the produced gas has already been invested in various projects. Ismail emphasized that the ministry’s efforts aim to reduce gas flaring to the minimum possible level, highlighting the significant impact of utilizing gas for investment.