Iraq’s Oil Minister Unveils Strategic Plan for Self-Sufficiency and Gas Capture at 4th Oil & Gas Exhibition

Opening the 4th Iraq Oil & Gas, Projects, and Licensing Rounds Exhibition, Oil Minister Bassem Mohammed Khudair outlined the government's roadmap to transform the nation's energy sector. The strategy shifts focus from purely exporting crude oil to maximizing resource value, reaching domestic fuel self-sufficiency, and completely phasing out gas flaring.

With current crude exports exceeding 3 million barrels per day, the minister highlighted key ongoing projects and investment priorities:

Export Route Diversification: Construction of the strategic pipeline connecting Basra to Fishkhabur to enhance export flexibility and supply security.

Refining Capacity Upgrades: The return of Japan’s JGC Corporation to resume work on the Fluid Catalytic Cracking (FCC) project at the South Refineries, aimed at halting fuel imports and boosting fuel quality.

Gas Capture & Exploration Deals: Opening investment opportunities to international energy firms for gas field development, exploration, and commercialization to support national economic growth.