Global warming remains a big challenge in our world today and a key focus area. Many organizations in the O&G and other industries have been focusing on the Paris agreement and Conference of the Parties (COP28) whereby parties to the United Nations Framework Convention on Climate Change (UNFCCC) convene annually to address climate change and the possible collaborative efforts to limit global warming and pursue efforts to limit temperature increase to 1.5C, reduce gas flaring globally, minimize environmental impact and conserve natural resources.
It is estimated that Iraq’s raw gas production is at 2,875 billion cubic feet p/day (Bcf/d) – of which 1,594 million scf/d is being flared. This represents $3.5 billion loss annually, not to mention the adverse climate and environmental consequences, from this gas produced as a byproduct of crude oil production. This places Iraq as the second largest gas flaring country in the world after Russia. (Source: the Iraq Energy Institute IEI 2022).