Iraq’s Gas Investment Rate Rises to 74%: Oil Minister
Iraq’s Oil Minister, Hayan Abdul Ghani, said on Thursday that the country’s investment in associated gas has increased to 74%, up from 53%, as part of Iraq’s push to grow its gas sector.
Gas Sector Projects
The Ministry of Oil has approved several major projects to develop Iraq’s gas industry, with strong progress seen in the Basra Gas Company project, Abdul Ghani told the Iraqi News Agency (INA).
The Basra Gas Company is a joint venture between the state-owned South Gas Company (which owns 51%) and two foreign partners — Shell and Mitsubishi (which together hold 49%).
According to the minister, the company is investing in the Rumaila, Zubair, and West Qurna 1 gas fields. He described the progress as a “big achievement,” noting the completion of the Basra NGL-1 and Basra NGL-2 projects. These plants are designed to process 400 million cubic feet of gas per day, and are currently producing around 350 million cubic feet.
Abdul Ghani added that the ministry plans to build a new unit called Basra NGL-3 to make full use of gas from these fields. He said current efforts focus on investing in both high- and low-pressure gas.
Iraq’s Energy Resources
Iraq is one of the world’s leading countries in oil and gas reserves. As of July, proven reserves stood at 145 billion barrels of oil and 132 trillion cubic feet of natural gas, according to the minister.
Recent Developments
In September, TotalEnergies began the final phase of its $27 billion investment project in Iraq, which aims to increase oil, gas, and electricity production. This includes full development of the Ratawi oilfield and construction of a large seawater treatment plant, part of the company’s Gas Growth Integrated Project (GGIP).
In July, the Ministry of Oil also signed an agreement with the US-based company SLB to develop the Akkas gas field in Anbar province. The project will raise gas output by 50 million standard cubic feet per day (mmscfd), bringing total production to 100 mmscfd, with a long-term goal of 400 mmscfd.
Published: 10th October 2025
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