Iraq's Siba Gas Field to Start Production by Year End

Iraq's Siba Gas Field to Start Production by Year End

 Iraq's Siba gas field will start production by the end of the year, according to officials.

The gas field in Basra province is the only one in southern Iraq and is expected to produce 100 million cubic feet of gas per day when it reaches its full capacity.

The director of the gas field, Asaad Abood said the facility will start with 25 million cubic feet of gas a day.

First discovered in 1968, Siba is estimated to hold 1.1 trillion cubic feet of gas.

A contract for the field was awarded to a consortium of Kuwait Energy, Turkish Petroleum and Iraqi state-owned South Oil Company after a licensing round in 2010.

Last year, the Kuwait-based producer transferred 20 per cent of its stake to the Egyptian General Petroleum Company.

The director of Egypt's state-owned Petrojet said Egyptian nationals were working on the project.

About 18 new wells are expected to be drilled over the life of the field.