Iraq signs agreement with Schlumberger to develop gas production at Akkas field

Iraq signs agreement with Schlumberger to develop gas production at Akkas field

Baghdad, Iraq - In a significant move to bolster its energy sector, Iraq has signed an agreement with Schlumberger, a global oilfield services company, to develop gas production at the Akkas gas field in the western province of Anbar. The agreement, announced on July 2, 2025, marks a substantial step in Iraq's efforts to leverage its abundant natural gas reserves.

The Akkas gas field, discovered in 1992, contains approximately 5.6 trillion cubic feet of proven natural gas reserves [1]. The field has been the subject of various development plans, with Schlumberger now taking the lead in its initial phase of development. The agreement follows the Iraqi cabinet's authorization in April 2025 for the Midland Oil Company to implement a quick development plan for the field [1].

Schlumberger's involvement is expected to significantly enhance the field's production capabilities. The Oil Ministry's Undersecretary for Gas Affairs, Izzat Sabir, has stated that the project will supply a gas-operated power plant in Anbar with 100 million cubic feet of gas per day, enabling the plant to generate 1,640 megawatts of electricity [1]. Over the next four to five years, the plan aims to increase the field's production to 400 million cubic feet per day, a substantial increase that will contribute to Iraq's energy security and economic growth.

The development of the Akkas gas field is part of a broader strategy to attract international investment in Iraq's oil and gas sector. Deputy Oil Minister Basim Khudair has noted that multinational oil companies are increasingly seeking to invest in Iraqi oil reserves [1]. The agreement with Schlumberger is a testament to Iraq's commitment to modernizing its energy infrastructure and leveraging its natural resources to drive economic development.

References:
[1] https://www.iraqinews.com/iraq/schlumberger-launches-development-of-iraqs-akkas-gas-field/