American firms tapped for Ratawi gas deal
The Oil Ministry and Honeywell have agreed to initial terms on a project that promises to cut nearly one-fifth of Iraq's current gas flaring – and could help convince the U.S. to keep granting Iran sanctions waivers.
Iraqi Oil Minister Thamir Ghadhban (center right), U.S. Ambassador to Iraq Matthew Tueller (far right), and South Gas Company Director General Hayan Abdulghani (far left) speak at a ceremony in Baghdad to celebrate the signing of a Memorandum of Understanding with Honeywell for the Ratawi gas hub on July 17, 2019. (STAFF/Iraq Oil Report)
BAGHDAD - An American consortium led by Honeywell is poised to win a major gas deal in Iraq, bolstered by U.S. government lobbying for projects that would reduce Iraqi dependence on Iranian energy.
Honeywell, which is partnering with the U.S. firm Bechtel, signed a memorandum of understanding (MoU) in Baghdad on Wednesday to build the Ratawi gas hub, which in its first stage will process up to 300 million standard cubic feet per day (scf/d) of associated gas that is generated as a byproduct of crude production at five southern Iraqi oil fields. The new facility promises to cut Iraq’s current level of gas flaring by nearly 20 percent.
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