Iraq plans to boost Akkas gas output by 2030 — OilPrice
Iraq plans to increase gas production at the Akkas field in Anbar province from the current 43 million standard cubic feet per day to 400 million cubic feet per day by 2030. At the end of July, Iraq’s Ministry of Oil signed a memorandum of understanding with a consortium involving U.S. companies ConocoPhillips and TI Capital, as well as Novaterra Energy, to assess the exploration and development potential of Akkas and adjacent areas, OilPrice reports.
Interim target for 2027
Mohammed Yassin Hassan, director general of Midland Oil Company, said production at Akkas should rise to 143 million standard cubic feet per day by mid-2027. According to him, the current contract with international company SLB, formerly known as Schlumberger, provides for the drilling of six wells and the construction of a gas processing facility with a capacity of 100 million cubic feet per day.
According to the publication, Akkas has proven reserves of 5.6 trillion cubic feet of gas. The field is located in western Iraq, near the border with Syria.
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Other energy agreements
OilPrice also writes that ConocoPhillips agreed to acquire BP’s 42% stake in BP Energy Company of Kirkuk Limited to resume development of five oil fields in the Kirkuk area: the Baba and Avana domes of the Kirkuk field, as well as Bai Hassan, Jambur and Khabaz.
According to the publication, TI Capital is working with Chevron on an oil pipeline project from Kirkuk to the Syrian Mediterranean port of Baniyas. The pipeline’s stated capacity is up to 2 million barrels per day. Novaterra Energy and ConocoPhillips have also concluded an agreement with the state-owned Syrian Petroleum Company to restore Syria’s damaged gas infrastructure. The target is to increase gas production by 4–5 million cubic meters per day within a year.
The article notes that during the first official visit of Iraqi Prime Minister Ali al-Zaidi, a total of 48 agreements and partnerships with U.S. companies were signed. They cover the development of oil and gas assets, energy infrastructure, and the launch of Starlink satellite communication services in Iraq.
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