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Iraqi Drilling: Drilling And Rehabilitating 15 Oil Wells In October To Boost Production
Posted on 2024-11-06 by sotaliraq The Iraqi Drilling Company, affiliated with the Ministry of Oil, has achieved remarkable progress in its operational projects in the Iraqi oil fields, as it announced its success in drilling and reclaiming 15 oil wells during last October.
These achievements come as part of the Ministry’s strategy to enhance oil production and increase the capacity of Iraqi fields, which contributes to supporting the national economy and meeting the growing needs of the local and international market.
Economic expert, Mohammed Samir Al-Kubaisi, explained “the importance of this progress in drilling and reclaiming oil wells,” noting that “it reflects Iraq’s commitment to developing its oil infrastructure and increasing its production to enhance its financial returns.”
He stressed that "these steps support economic stability and contribute to reducing dependence on imports, which strengthens Iraq's position as a major source in the global energy market."
He added that “increasing production would improve public revenues, which could be directed to development projects that contribute to improving services and strengthening the local economy.”
The Deputy Director General of the Iraqi Drilling Company, Kazem Habash Khalif, said in a statement that “the technical and engineering staff in the company were able to drill 4 new oil wells and reclaim 11 other wells, distributed across several oil fields in the country.
He added, "These achievements come within the framework of the company's commitment to enhancing oil production and adhering to the specified timetables."
He stressed that "the company is continuing to implement its ambitious plans to enhance the oil sector in Iraq in cooperation with national and international oil companies."
On the other hand, the Undersecretary of the Ministry for Gas Affairs, Ezzat Saber Ismail, confirmed that “the gas sector is receiving the attention of the government and the ministry,” noting that “the ministry’s strategy and plans aim to stop gas flaring within the next few years.”
The Undersecretary pointed out that “the ministry has contracted with specialized companies to invest in associated gas and convert it into energy that can be used to secure fuel for the electricity sector and develop industries in the field of petrochemicals and other industries,” explaining that “the ministry has achieved an investment rate of (67%) of gas, reaching (70%) by the end of this year.”
It is hoped, as part of future plans, that “new quantities will be added during the coming year.” LINK
Bond funds delivered to paymasters was coming in so fast everyone was is in awe from the amount
Private appointments are being made now.
Get your plans/projects together and don’t wait around for this to happen without being ready.
No straight cash will be given.
You are in charge of your funds and can place funds in different accounts
Advisers will be there to assist you with your funds and will help guide you in your projects or choosing one on the list.
Everything is going well
, still some that do not want this to happen, but all is safe.
You can take to your appointment: advisors/bank contacts (if you have already spoken to a specific person)/ friend/any person/s you want to assist you.
Zim Cap information is changing daily but as of now they are paying as follows:
NO projects = 15 million no matter amount you might hold.
With projects = First 2 bond notes are 1 to 1 after this 25 million (per 100T) up to 30 bond notes.
To negotiate further you will need to return.
Safe link 800# will be released closer to go date.
Economic 2024/11/06 When Iraq announced that it had paid off all its debts to the International Monetary Fund last May, Reuters quoted the Fund as saying that Iraq was facing internal imbalances exacerbated by the large financial expansion and the decline in oil prices, and that it needed to gradually correct the public finances to achieve debt stability in the medium term and rebuild reserves.
Mohammed Sharif Abu Maysam At the same time, despite the expansion in public finance management with the aim of achieving significant increases in growth rates, the Ministry of Planning announced a decline in inflation rates from 7.5 percent to 4 percent, which is a positive precedent that has never happened before and is credited to those in charge of monetary and financial policies. It was leaked from the Central Bank that the cash reserve exceeds 110 billion dollars and that the country’s gold reserves amounted to nearly 150 tons.
The full repayment of the country's debt to the International Monetary Fund, the decline in the inflation rate and the increase in the cash reserve rates were indicators of a major shift in economic policies, not because the amount of debt was large, exceeding about eight billion dollars, but because such debts are usually conditional in the context of the so-called economic reform program that aims to privatize state functions and link the country's fate to the policies of the creditor parties and those behind them.
It is known globally that governments that can get rid of the burden of debt to the Fund and the World Bank are the most successful in managing the affairs of their countries and implementing their programs related to supporting macroeconomic stability and implementing the necessary financial reforms.
Supporting the ration card program was not only a direct reason for reducing inflation rates, but other factors related to monetary and financial policies and limiting parallel markets, and the flow of foreign currency with supporting the local product contributed to achieving this.
Thus, increasing the percentage of the country's gold reserves contributed as a tool to cover the local currency and a safe means of hedging against economic fluctuations and security tensions witnessed by the world and the region.
Accordingly, those in charge of economic policy files prove their success, and it is our duty to point out that these successes, just as it was our duty to always point out the points of weakness and stumbling with the aim of monitoring and correcting, have proven the inaccuracy of the vision presented by the International Monetary Fund regarding the situation of public finances, debts, and rebuilding reserves.
Today, Iraq intends to increase its share in the International Monetary Fund by the equivalent of 1.45 trillion dinars, which will support its voting power within the Fund, contribute to attracting investments, create a promising business environment, and achieve real development, thus addressing the problem of inflation in the labor market and implementing the components of the government program. https://alsabaah.iq/105468-.html
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