Iraq Signs Agreement with Ukrainian Company for Gas Field Development

The Iraqi Ministry of Oil announced in a statement on Wednesday that it "has signed an agreement with the Ukrainian company 'Ukrzem Resource' to develop the Akkas gas field in Anbar province in the west of the country." The agreement aims to produce 100 million standard cubic feet per day in the first two years, with production expected to rise to 400 million standard cubic feet within four years. In this context, the Iraqi Ministry of Oil announced that it has postponed the oil and gas bidding round for up to 30 new oil and gas areas to a date that will be announced later.