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iraq inks strategic deal with schlumberger to boost akkas gas production

WB_2299_PIPELINESWB_539_OIL_AND_GAS_POLICY_STRATEGY_AND_INSTITUTIONSWB_507_ENERGY_AND_EXTRACTIVESWB_548_PPP_IN_OIL_AND_GAS

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AI insight

AI-generated

The agreement with Schlumberger aims to increase domestic gas production in Iraq, reducing flaring and improving energy security. The commercial mechanism is a service contract for field development and infrastructure, directly affecting Schlumberger's revenue and Iraq's gas supply. Impact is country-specific (Iraq) with potential regional gas market implications if output reaches 400 mmscfd.

Signals our AI researcher identified

Extracted by our AI model from this article and related public sources — not direct quotes from the publisher.

  • Iraq signed a strategic agreement with Schlumberger to boost Akkas gas field production.
  • Initial output target is 100 mmscfd, long-term goal is 400 mmscfd.
  • Akkas is the second-largest gas field in the Middle East.
  • Deal replaces a prior contract with a Ukrainian firm.
  • Includes development of pipelines to processing units and al-Anbar Power Station.
iraq inks strategic deal with schlumberger to boost akkas gas production | meobserver.org — News Analysis