BAGHDAD (Reuters) – Baker Hughes and General Electric signed a contract with Iraq’s government on Monday to process natural gas extracted alongside crude oil at two fields in southern Iraq, the oil ministry said.
The plan was first announced by GE last July and is part of Iraq’s efforts to stop flaring gas associated with oil by 2021. Iraq continues to flare some of this gas because it lacks the facilities to process it into fuel for local consumption or exports.
Gas flaring costs nearly $2.5 billion in lost revenue for the government and would be sufficient to meet most of needs for gas‐based power generation, according to the World Bank. […]
