BGC is a 25-year joint venture between Iraq’s South Gas Company holding 51%, Shell 44% and Mitsubishi Corporation 5% established in 2013. BGC’s key operation is to gather, treat and process associated natural gas extracted from licensing round-1 oilfields: Rumaila, West Qurna 1 and Zubair turning natural gas into cleaner energy (otherwise flared).
BGC is an Iraqi company established to meet an Iraqi challenge, our strategic plan is aligned with the ambition of the Government of Iraq, to capture larger volumes of associated gas and reduce gas flaring while diversifying revenue streams. BGC’s intent is to grow and progress the Company to become the safest, most reliable, and highly performing Iraqi gas company, recognized for delivering the country’s vision harnessing Iraq’s gas resources into a catalyst for social stability and economy’s development.
Currently BGC captures more than 60% of associated gas produced by three oil fields. Since BGC’s commencement of operations in 2013, we accomplished significant achievements ramping up production from 250 mmscf/d to 950mmscf/d – that’s more than 3 times gas produced and enough to provide approximately 3.5 GW of electricity for millions of homes in Iraq.
In addition, BGC is one of the largest gas flaring reduction projects in the world. One of our key differentiators is reducing green gashouse emission and minimizing negative environmental impacts. From 2013 to date, BGC prevented more than 160 million tons of CO2 from entering the atmosphere – that is equivalent to removing more than 3 million cars off the road.
BGC will continue to play a pivotal role in supporting Iraq’s economy and turning natural resources into much needed energy for the country and its people.