The Akkas gas field development agreement with Kogas and KazMunaiGaz is set to take place this week.
Iraq is expected to sign a deal for the development of its Akkas natural gas field with a South Korean and Kazakh consortium of companies this week.
The newswire quoted senior Abdul Mahdy al-Ameedi, head of the ministry’s Petroleum Contracts and Licensing Directorate as saying that “We are going to initial the agreement between February 22 and 24”.
Akkas which has reserves of about 158 billion cubic metres lies in Anbar province and is the largest of three gas fields that were put up for auction in October.
The winning consortium of Korean Gas Corporation (Kogas) and Kazakhstan’s KazMunaiGaz made the winning bid for the field in Iraq’s third gas auction since 2003.
