Having failed to attract foreign investor interest in the 5.6tcf (gas in place) Akkas gas field, Baghdad is working to solidify demand for the field in order to strengthen the business case. Build it and they will come? 1.85GW of gas fired power capacity is under development nearby and will provide a key outlet for any eventual Akkas output. For now, a key pipeline link is being constructed even before the field is operational.
Last year, Iraq took the decision to develop Akkas by itself through its re-instated Iraq National Oil Company (INOC) – albeit only after struggling to drum up interest from foreign firms. Talks with Saudi Aramco and a consortium of US services firm Schlumberger and little known Saudi oil firm Delta Oil appeared to have fallen apart (MEES, 19 November 2021). Since then, Halliburton has been touted for an appraisal drilling contract for the field (MEES, 22 April) but the country’s ongoing political stalemate has prevented any contracts from being signed. (CONTINUED - 866 WORDS)
