For the Nahr Bin Umar field, the Iraqi Ministry of Oil’s subsidiary South Gas Company and Halfaya Gas Company inked a 150 million standard cubic foot per day gas processing and development agreement.
The field is located in the southern part of Basra.
Condensates and liquefied gas might potentially be produced, and the development would be carried out under a build-own-operate-transfer (BOOT) arrangement. The project calls for the construction of storage tanks, pipeline networks, and facilities for gathering gas in order to supply gas to power plants.
Halfaya Gas firm’s parent firm is Raban AI-Safina Company for Energy Projects Ltd. (RASEP). The company, which is led by Iraqi billionaire Saadi Saihood, has its main office in Baghdad and a branch office in Dubai, United Arab Emirates.
