The Deputy Prime Minister of the Iraqi Government for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, said, “Today the Ministry of Oil signed contracts to develop oil and gas fields and exploration blocks located in a number of governorates with the winning companies, which are the fields of Al-Faw, Jabal Sanam, Dima, Allan, Sasan, Sumer, Adan, Abu Khaimah, eastern Baghdad, and the Euphrates.” Al-Awsat, Al-Khulaisiyah, Al-Qarnain, Zurbatiyah, and Al-Dhafriyah.”
He explained that the companies that won contracts for these fields and exploration blocks are both “Iraqi Karr and Chinese companies, most notably Yujie, Geo Jade, Sinoc, Zhenhua, Zibek, and Anten Oil.”
The Iraqi Minister stated, “The development operations will add production capacities estimated at 800-850 million cubic feet of gas and 750,000 barrels of crude oil within the framework of the government’s plan to increase investment in the gas and oil sector and achieve sustainable economic development.”
He stressed, “The Ministry has large and promising plans to develop exploratory patches and discovered undeveloped fields in upcoming rounds to increase the country’s oil and gas reserves and secure fuel for electric power generation plants, petrochemical industries, and other industries.”
Iraq is currently working on a series of development projects until 2028 to raise crude oil production capacities to 6 million and 500 thousand barrels per day, export capacities to 5 million and 250 thousand barrels per day, gas production to more than 4,250 million cubic feet of gas, and increasing refining capacity in Iraqi refineries to 1 million and 500. One thousand barrels per day, in addition to increasing the storage capacities of crude oil and the storage capacities of oil derivatives.
Iraq currently has huge reserves of… Crude oil It amounts to 153 billion barrels and gas at about 127 trillion cubic feet.
