Minister: Iraq's oil extraction cost starting from $ 5 a barrel

December 20, 2015 16:00
Direct: Adel Abdul Mahdi, Iraq's oil minister said that Iraq is in third place in the world classification of oil reserves, and fourth in terms of export.

The "Abdul-Mahdi," that Iraq has reserves of more than 130 billion barrels, -ovq Qatar News Agency "Qena" - pointing out that oil is a source of power generation in the world by 35% of the world's energy sources President.

He noted that the southern and central regions are the main source for the production of oil in Iraq, where up its production capacity to 3.7 million barrels per day, and production cost of up to $ 10 per barrel, and the cost of production Rumaila up to $ 5 a barrel.

He continued: while there are countries producing oil in OPEC oil production, the price of which up to 40 or 80 dollars per barrel, as in the "SHELL OIL" field or what is known as shale oil.

"Abdul-Mahdi," and said that Iraq ranks 11th globally in terms of reserves of gas, has advanced the fifth or sixth rank to complete his explorations, pointing out that Iraq has 131 trillion standard cubic feet, an enormous amount comes about 75% of which are associated with the operations of gas the extraction of oil and the rest of the free gas fields.