Ukrainian firm takes over Kogas contract for Akkas

Ukrzemresurs agrees to bring the dry gas field to 400 million scf/d production within four years in a deal that also finalizes Kogas's exit.
Maksym Mustafin, the CEO of Ukrzemresurs (seated, left), signs an agreement to take over the contract for developing the Akkas gas field at a signing ceremony attended by Oil Minister Hayyan Abdulghani (standing, center) and other Oil Ministry leaders on April 24, 2024. (Photo credit: Oil Ministry)

The Ukrainian company Ukrzemresurs has taken over a contract previously held by Korea's Kogas to develop the Akkas gas field in Anbar province, according to two Oil Ministry officials.

The dry gas field, which holds an estimated 5.6 trillion cubic feet of gas, is targeting a production rate of 400 million standard cubic feet per day (scf/d) within four years, according to an Oil Ministry statement released after an April 24 signing ceremony in Baghdad. A first phase of the project aims to raise production to 100 million scf/d within one to two years.

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