Jereh Signs Development Contract with Iraq’s Oil Ministry for the Mansuriya Gas Field

May. 27, 2024 Industry News by: Jereh

Jereh Group recently signed a preliminary development contract with the Midland Oil Company of Iraq (MdOC) to jointly develop the Mansuriya Gas Field. The formal agreement will be signed pending approvals from relevant authorities in Iraq and China.

The country's second-largest gas field, Mansuriya, which spans 20 kilometers in length and 3-4 kilometers in width, boast an estimated reserve of 4.5 trillion cubic feet. The development of the Mansuriya Gas Field now stands as a significant project under Iraq's strategic initiative to increase investment in natural gas and achieve energy self-sufficiency.
Bassim Mohammed Khadir, Deputy Minister for Extraction Affairs of the Iraqi Ministry of Oil, commented on the collaboration: "This agreement strengthens our commitment to natural gas development. We aim to eliminate the wasteful practice of gas flaring and maximize resource utilization."
According to the contract terms, the Iraqi Ministry of Oil will repurchase all produced natural gas, liquefied petroleum gas and condensate products, ensuring Jereh's cost recovery and equity distribution.
With the extensive expertise in oil and gas field development, drilling and completion services, surface engineering, and high-end equipment manufacturing, Jereh is well-positioned to efficiently execute the Mansuriya Gas Field development project.
Committed to a localized operational philosophy, Jereh adheres to local policies and regulations, emphasizes ESG principles, and focuses on environmental protection, social responsibility, and corporate governance.
Li Weibin, Executive Vice President of Jereh, stated, "we place great importance on this cooperation for the immense potential for energy development of Iraq. Leveraging our mature overseas oil and gas development experience and international perspective, we aim to share development opportunities with the Iraqi government to assist in advancing local economic development and living standards."

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