Oil Expert: Iraq Is Capable Of Producing 5 Million And 700 Thousand Barrels Per Day,27 MAY

 Oil Expert: Iraq Is Capable Of Producing 5 Million And 700 Thousand Barrels Per Day

 Time: 05/25/2024 18:38:18 Read: 1,261 times    {Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, confirmed today, Saturday, Iraq’s ability to produce 5 million and 700 thousand barrels per day after working on 18 or more oil fields.

 Al-Jawahiri said {to Al-Furat News} that:

“There was an increase in Iraq’s oil production, which does not mean that it will be pumped to the markets or produced because it is committed to OPEC’s decisions.”  He added,

"Iraq currently has a production capacity of one million and 500 thousand barrels that can be added due to the work being done on 18 or more oil fields, and

it can raise its production from 4 million and 200 thousand barrels of oil per day to 5 million and 700 thousand barrels per day."

Al-Jawahiri added,  "With regard to the issue of gas production, we find seriousness from the government towards this matter and we hope for its success, if work continues at this pace."

The Minister of Oil, Hayan Abdul Ghani, announced in his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, that 29 promising projects were proposed within these licenses to advance industry and gas wealth.  He explained that

 the licensing rounds have an impact by adding two million barrels of oil to national production, while stressing  the imminent announcement that Iraq's oil reserves will rise to 160 billion barrels.  

 https://alforatnews.iq/news/خبير-نفطي-العراق-قادر-على-إنتاج-5-ملايين-و700-الف-برميل-يومياً