Iraq agrees with U.S. firm Orion to invest in gas production

Iraq has reached an initial agreement with U.S. energy company Orion to invest in the production of gas from the Nahr Bin Omar southern oilfield, an oil ministry statement said on Monday.

Nahr Bin Omar, which is operated by state-run Basra Oil Co., is now producing over 40,000 barrels per day of oil (bpd) and 25 million cubic feet a day of natural gas, said the statement.