Minister Of Oil: Soon We Will Announce The Increase In Iraq’s Oil Reserves To 160 Billion Barrels
Economy | 05/11/2024 Mawazine News – Baghdad The Minister of Oil, Hayan Abdul Ghani, confirmed today, Saturday, that the Iraqi oil reserves will soon be announced to rise to more than 160 billion barrels.
Abdul Ghani said, in his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, followed by Mawazine News, that “the supplement to the fifth licensing round and the sixth licensing round are part of the government program.”
He added, "Today, the Ministry is offering 29 promising projects within these licenses to advance industry and gas wealth."
He continued, "Licensing rounds have the effect of adding two million barrels of oil to national production," stressing that "these projects will provide job opportunities, stimulate the economy in those areas, and meet the growing needs for gas."
He stressed "the imminent announcement that Iraq's oil reserves will rise to 160 billion barrels."
