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Tuesday, October 8, 2024
Iraq in talks with OPEC to make Muthanna an oil exporter by 2025, 8 OCT
Shafaq News/ Discussions are underway between Iraq and OPEC to include the Muthanna among the oil-producing and exporting governorates in the coming years, Ihsan Abu Jaila, head of the Reconstruction and Strategic Planning Committee in the Muthanna Provincial Council announced on Tuesday.
Abu Jaila stated, “The Abu Khema oil field, discovered in 1975, is near the Iraqi-Saudi border and covers 1,809 square kilometers with one well,” adding, “The companies that applied for the licensing include the Chinese firms Zhenhua and Geo Jade."
“More than eight wells have been explored by the Ministry of Oil in the Eridu field in Al-Duraji district, drilled by the Bohai and ZPEC companies,” he said, pointing out that several wells, namely Salman 1, Salman 2, and Salman 3, have been discovered in Block 12 in Al-Salman district.
The committee head further confirmed that coordination will occur between the Ministry of Oil and OPEC to enable the Muthanna to export oil by 2025, revealing that “the oil reserves in the Eridu field are estimated to be between 8 to 10 billion cubic meters.”
Iraq, OPEC's second-largest producer, relies on oil exports for more than 92% of its state budget, exporting 60% of its crude oil to Asia, 25% to Europe, and 15% to the US.
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