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Kuwait Energy-led group wins Iraq’s Siba gas field

Siba has estimated reserves of 1.13 trillion cubic feet of gas.


October 20, 2010 12:27 by

Kuwait Energy Company and Turkish partner TPAO won a deal on Wednesday to develop the southern Siba gas field in Iraq’s third energy auction since the 2003 U.S.-led invasion, Oil Minister Hussain al-Shahristani said.

The group’s plateau output target was 100 million cubic feet per day of gas, and it proposed a remuneration fee of $7.50 per barrel of oil equivalent.

Siba has estimated reserves of 1.13 trillion cubic feet of gas.


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