New Mansuriya FZCO (NMF), a subsidiary of Jereh Group, and Midland Oil Company of Iraq (MdOC) have officially confirmed the fast-track production target during the first Joint Management Committee meeting for the Mansuriya Gas Field Development Project. This milestone concludes preparatory works and marks the project’s full-scale transition into the execution phase.

While the contract stipulates first commercial production within three years post-PDP approval, NMF has leveraged its deep understanding of Iraq’s urgent energy self-sufficiency needs and proven expertise in engineering project management to compress the timeline to 20 months– a 33% efficiency improvement.

During the meeting, both parties conducted in-depth reviews and discussions on critical matters, including contract approvals, project budget, organizational structure, and workforce deployment, following the completion of the construction implementation schedule. Simultaneously, the technical subcommittee held specialized deliberations on technical challenges such as geological exploration and reservoir engineering, providing robust technical support to ensure the seamless execution of the project.

The Mansuriya Gas Field, Iraq’s second-largest gas field, is located in Diyala Province in eastern Iraq, covering an area of 130 square kilometers with proven natural gas reserves of 4.5 trillion standard cubic feet (TCF). Recognized as a strategic asset, the field has remained dormant since its discovery in the 1980s due to geopolitical constraints and technical limitations.

In recent years, Jereh, parent company of NMF, has demonstrated strengthened financial capabilities, with diversified investment approaches and a comprehensive investment strategy that spans the entire project lifecycle. The social funding institutions of Venture Capital and public market capitalization provided Jereh with a financial guarantee of 5.7 billion US dollars. With the Iraqi government actively advancing its energy self-sufficiency strategy and increasing investments in the natural gas sector, the Mansuriya Gas Field is finally entering a new phase of development after four decades of inactivity. Leveraging its financial capabilities and extensive experience in engineering project management, deep technical expertise in oil and gas, and a commitment to open collaboration, Jereh has successfully secured the development rights to this landmark project.

At the project inauguration ceremony, Mohammed Yassin Hassan, General Manager of Midland Oil Company of Iraq, stated: “Against the backdrop of Iraq’s critical natural gas supply shortages, the development of the Mansuriya Gas Field holds significant strategic importance for achieving energy self-sufficiency. To realize rapid production, teamwork is paramount. We are highly pleased to see NMF demonstrate exceptional efficiency and professionalism in the project preparation phase, which not only reflects their robust project management capabilities but also serves as strong support for Iraq’s energy development.”

In addition to driving the project’s development, NMF has actively fulfilled its corporate social responsibility by supporting local communities. During Ramadan, NMF partnered with Midland Oil Company to visit six villages near the project, delivering holiday relief supplies to residents living in modest dwellings. Through these actions, NMF has conveyed warmth and goodwill, reinforcing its commitment to sustainable development.

Weibin Li, General Manager of New Mansuriya FZCO Company, stated: “After four decades of dormancy and anticipation, the Mansuriya Gas Field has finally entered a new era of development. New Mansuriya Company will leverage advanced technologies and international management practices to fully advance the implementation of the Mansuriya Gas Field project, ensuring its fast-track, safe, and Environmentally friendly delivery. This will drive transformation and progress in Iraq’s natural gas industry. At the same time, New Mansuriya Company will steadfastly uphold the principles of ‘dialogue, cooperation, and shared success,’ working closely with internal teams and external partners to establish the Mansuriya Gas Field as a benchmark project in Iraq’s oil and gas sector. This effort will actively contribute to the Belt and Road Initiative while fostering local energy industry development and social progress.”