Official: Iraq's oil reserves exceed 130 billion barrels and production continue

2101 2016
Oil Minister Adel Abdul Mahdi, Iraq has confounded oil exceeds 130 billion Brmel.oukal Abdul-Mahdi, yesterday evening, during a speech, at the College of Defence and Strategic Studies in central Baghdad, said that "Iraq has huge oil reserves estimated at more than 130 billion barrels of oil, It is considered as the third country worldwide in terms of reserves, "adding that" what is currently produced in Iraq is estimated at one billion barrels a year. "
He added that "oil reserves is not latent, due to stop oil exploration in the past years as a result of wars, and there is a belief that the oil reserves of up to twice the User ID, so Iraq will remain another oil producer in the world."
Mahdi pointed out that "a lot of oil companies, do not come to Iraq, because they think the rapid gain, and do not think term investment," pointing out that "oil accounts for 7% of the Iraqi national product, and its impact on the general budget of the country exceeds 90% ".
The Mahdi, announced last Tuesday, said that the export of oil for the month of January the current rates of more than 3.0001 million bpd from the middle and south fields, stressing the need to cut spending in the development of oil fields projects, and that presided over a meeting of the committees shared departments oil fields operating within the oil licensing rounds for decades.
agency all of Iraq News 2016