Eco
Under the patronage of Prime Minister Ali Faleh Al-Zaidi, a ceremony was held today, Saturday, to sign a significant agreement for the development and operation of the Ajil oil and gas field. This contract, concluded between North Oil Company and KEBPT Company, aligns with the Ministry of Oil's strategic plans to maximize the investment in hydrocarbon resources and elevate oil and gas production rates. A statement issued by Al-Zaidi's office highlighted that the agreement aims for optimal utilization of the field's resources, thereby bolstering energy security and supporting the nation's electricity generation system. The contract spans a duration of twenty-five years, outlining gradual increases in the field's production. Key objectives include boosting gas production from approximately 135 million standard cubic feet per day to 300 million standard cubic feet per day. Furthermore, the agreement focuses on raising oil production from 30,000 barrels per day to 40,000 barrels per day, a move intended to enhance the field's overall productive capacity.
