November 14, 2010 / 1:22 PM / 9 years ago

Iraq sees gas field output at 25 pct in three years

BAGHDAD, Nov 14 (Reuters) - Iraq expects commercial production from its gas fields to be at 25 percent of the production target within the first three years, an oil official said on Sunday.

“The first commercial production from the gas fields that should be achieved by the contractor will be 25 percent of the production target within the first three years, and the final production target set in the contract should be achieved in six years,” said Abdul-Mahdy al-Ameedi, head of the ministry’s licensing and contracting office.

Ameedi said the signing of the initial contract for the Akkas gas field had been delayed until after the Eid holiday to allow Kogas (036460.KS) and KazMunaiGas [KMG.UL] more time to study the contract. (Reporting by Ahmed Rasheed; Writing by Serena Chaudhry; Editing by Dan Lalor)

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