Ahmed al-Mohsin, the Chief of Operations at Rabban al-Safina Energy Group, said the company has signed nine Memoranda of Understanding (MoUs) with nine U.S. companies on Thursday to capture and process gas at the Nahr Bin Omar field in Basra, reported the Shafaq News.
Al-Mohsin added that the companies involved in the agreements include KBR, Honeywell, Baker Hughes, Emerson, and GE. He explained that the agreements cover various areas, including design, construction, and logistics, and feature high-efficiency production technology.
The agreements also call for 400 kilometers of pipelines to transport the gas, a marine export terminal, a gas processing plant, and other facilities.
In late 2023, the cabinet approved a "Build-Own-Operate-Transfer" (BOOT) deal for 15 years with Halfaya Gas Company, which is linked to Rabban al-Safina.
"The Nahr Bin Omar Gas Field Project is an integrated project that includes gas gathering, compression, processing, and LPG extraction," al-Mohsin said. "The project includes the construction of a pipeline to transport natural gas to power plants in Iraq, in addition to building an offshore platform at Umm Qasr Port to export liquefied gas to global markets."
The Nahr Bin Omar field is located in southern Iraq, 15 kilometers north of Basra. It contains reserves estimated at 6.6 billion barrels of oil, with a planned capacity to produce about 440,000 barrels a day (b/d), as well as 12 billion cubic feet a day (cf/d) of gas. The budget for the field development contract is estimated at $500 million. The gas processing plant, which has a planned capacity of 300 million cf/d, also has an estimated budget of $500 million.