Iraq & The NWO Corprotacracy

Turkey, ExxonMobil Going Ahead With Gas Project in Iraqi Kurdistan

21/5/2013 09:38:00
    
Turkey, ExxonMobil Going Ahead With Gas Project in Iraqi Kurdistan

Before his departure for Washington, Turkish Prime Minister Recep Tayyip Erdogan announced, “We will undertake joint exploration with ExxonMobil in northern Iraq.” This is how he stated Turkey’s readiness to make a presence in northern Iraq, not despite the US, but with it.
Speaking at an airport news conference before his departure, Erdogan revealed an important cooperative venture in northern Iraq. He said, “We have taken a step to begin oil exploration with ExxonMobil, together with the northern Iraq regional administration. We will develop these steps further during my US visit.”
This was Erdogan’s way of saying that the region’s less costly oil and natural gas resources will be available to the world via Turkey, and that the US firm Exxon was cooperating alongside Turkey in this venture. Erdogan noted that the northern Iraq regional administration has a constitutional right to undertake such an action. “It is the right of that administration to cooperate in this action with Turkey,” Erdogan said.
State-owned Turkish Petroleum [TPAO] will be working with ExxonMobil. This joint venture with ExxonMobil has great significance.
Source: al-monitor
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Shell Starts World’s Largest Gas-Capturing Plant in Iraq

2/5/2013 12:32:00
   
 Shell Starts World’s Largest Gas-Capturing Plant in Iraq

By Kadhim Ajrash & Nayla Razzouk - May 1, 2013 3:32 PM GMT+0300
Royal Dutch Shell Plc. (RDSA) and Mitsubishi Corp. (8058) started operations at a $17-billion joint venture to capture gas from some of Iraq’s largest oil fields.
The Basrah Gas Co. project, the biggest of its kind, captures so-called associated gas flared from the southern oil fields of Rumaila, West Qurna-1 and Zubair, according to a statement on Shell’s website. Iraq’s state-owned South Gas Co. holds a 51 percent stake in the 25-year venture, while Shell owns 44 percent and Mitsubishi the remainder.
“Basrah produces only around 1 billion cubic feet a day of associated gas and some 700 million cubic feet are being flared, which is wasting millions of dollars of the country’s resources,” Ali Khudair, director general of South Gas, said in the statement. The project will help eliminate flaring and provide fuel to industries, power generation as well as income to the state, he said.
Iraq, which holds the world’s fifth-largest oil reserves, sought foreign investors to increase gas output to end power outages and supply electricity stations, which suffered from decades of war and economic sanctions. The country’s power grid remains unable to meet domestic demand 10 years after the U.S.- led invasion that toppled Saddam Hussein. The government plans to export gas after it has satisfied domestic demand.
Basrah Gas will upgrade current facilities and build new assets to increase production capacity to 2 billion cubic feet a day from 400 million cubic feet a day, Shell said in the statement. “A number of critical projects have already started, like the new power plant at the Khor Al Zubair gas plant, compressor stations in North Rumaila, as well as leasing compressors to reduce gas flaring in the Zubair field.”
The project, the largest gas project in Iraq’s history, also includes the option to build a liquefied gas plant for potential export once domestic energy needs are met, according to the statement.
To contact the reporters on this story: Kadhim Ajrash in Baghdad at kajrash@bloomberg.net; Nayla Razzouk in Dubai at nrazzouk2@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
Source: Bloomberg
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