Saudi Aramco to develop 400 mcf per day Iraqi gas field

Saudi oil giant Aramco will develop a gas field in Iraq that could produce more than 400 million cubic feet of gas per day, Iraqi Oil Minister Hayan Abdel-Ghani said on May 25.

Aramco (2222.SE) will invest and develop Akkas gas field in the western Iraqi Anbar province, the Iraqi oil ministry said in a statement citing Abdel-Ghani, Reuters reports.

The statement added that there was also an initial agreement with Saudi Arabia to invest in the Nebras project, "one of the most promising strategic projects in the petrochemical industries in Iraq and the region".

Abdel-Ghani made the announcement on the sidelines of the Saudi-Iraqi Coordination Council currently held in the kingdom.