GE Oil & Gas, Iraq sign agreement to strengthen energy sector

GE Oil & Gas has signed an agreement with the Iraqi Ministry of Oil in a bid to bolster the performance of the country’s energy sector and promote the sustainable growth of the economy.

The company will provide advanced equipment, technology upgrades and maintenance of the ministry’s fleet to help support the country’s energy sector.

As part of the agreement, a new monitoring and diagnostics centre will be established to leverage GE’s digital solutions.

By taking large data from sensors embedded in the ministry’s equipment and using advanced software analytics, the centre will offer web-based solutions that enable predictive maintenance and reduced downtime.

Under the agreement terms, GE and Iraqi Ministry of Oil will partner on an end-to-end solution to reduce gas flaring in the country’s oil fields with plans to use it for power generation.

The solution is expected to turn into more than 200Mw per site as well as recovery of liquefied petroleum gas.

GE will also team up with the ministry to develop financing structures for its projects by tapping into its international knowledge.

The company said that the agreement will create additional jobs for Iraqis, in addition to building national human capital through advanced technical training.

Iraq Deputy Minister of Oil, Fayadh Hassan Nima, said: "The oil and gas sector serves as the backbone of the national economy and we are committed to strengthening it by leveraging the latest technologies.

"The framework agreement with GE Oil & Gas is planned to bring transformational growth to the industry by enhancing the operational efficiency of all our assets and boosting productivity."

Going forward, GE will collaborate with the ministry to introduce its new technologies and solutions to upgrade the ministry’s assets.

---

Image: Front row centre left GE Oil & Gas, Middle East, North Africa and Turkey president and CEO Rami Qasem, front row centre right Deputy Minister of Gas affairs Hamid Younis, front row far right State Company of Oil Projects director general Nihad Musa, top left GE Oil & Gas sales manager Muthanna Jaber, Iraq Deputy Minister of Oil Fhayad Hassan Nima. Photo: courtesy of GE Oil & Gas.