Iraqi official: the province "Dhi Qar" oil stocks more than 20 billion barrels

January 6, 2016 4:44

"Yahya of Nazareth," the governor "Dhi Qar" in southern Iraq, said that maintaining the fields of stocks, estimated at more than 20 billion barrels of oil, noting that the latter seeks to coordinate with the Federal Ministry of Oil, to bring in foreign companies, to invest oil.

He said the Nazarene, during a press conference held on Tuesday in the city of "Nasiriyah" (the county), that "the oil fields in Dhi Qar, has oil reserves exceed 20 billion barrels, should therefore be the development of the extractive industry."

He continued the Nazarene "We will work in coordination and cooperation with the Ministry of Oil, the oil in the governorate's management, and the introduction of international companies to invest in it, especially in the administration of an oil refinery."

He explained that "the Council of Ministers formally approved the establishment of Dhi Qar Oil Company, based on various claims of the administration of the province," noting that "the company developed will provide more than 5 thousand jobs for the people of Dhi Qar, and the evolution of the oil industry, and revive the economy of the province, as well as the economy the National".

The Iraqi cabinet decided on Tuesday to approve the establishment of oil "Dhi Qar" company, and the separation of management from the fields, "South Oil" company, which the Council decided to change its name to "the Basra oil company management."

Includes "Dhi Qar" 4 oil fields are "Garraf" province, and "Nasiriyah," and "Abu column," and "poured", currently produces 170 thousand barrels of oil per day.

Plans and the Federal Ministry of Oil, to get to the roof of a daily production of four million barrels of oil per day, during the current year 2016, Iraq is the second largest oil exporter in the Organization of "OPEC", depends on crude oil exports, to fund about 95% of the state's expenses.