Generation
Posted By OrePulse
Published: 04 Nov, 2024 12:16
Jereh, Petro Iraq Partner to Develop Iraq’s Mansuriya Gas Field
Jereh Group and Petro Iraq for Oilfield Development Co., Ltd. have signed a development and production contract with Midland Oil Company of Iraq (MdOC) to jointly develop the Mansuriya gas field.
This marks Jereh’s first venture as a developer in a major oil and gas project within the Middle East region.
The Mansuriya gas field is considered as Iraq’s second largest and is part of the country’s strategy to increase domestic energy production and reduce reliance on imports.
Under the terms of the contract, the Iraqi Ministry of Oil will repurchase all produced natural gas, liquefied petroleum gas, and condensate products once commercial production begins, ensuring Jereh’s investment and cost recovery.
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