Expectations of the contribution of Iraq B30- 35 percent in world oil markets

8/15/2016 0:00

BAGHDAD Farah pumice

Predicted oil expert said the possibility of contributing to Iraq by 30 to 35 percent of the growth in global exports of crude oil and natural gas over the next 25 years. Coincided expectations expert with the launch of the Ministry of Oil to the implementation of giant projects in several provinces.

The expert said Hisham al - Jabri »Sabah»: The size of the investment opportunities in Iraq is very large, especially with the presence of a large oil reserves ».

He pointed out that« With the entry of international oil companies to Iraq, after an increase of oil production and initiate steps raw gas and liquid export, Iraq will be the biggest oil power to be reckoned with expectations that the accounts for between 30 to 35 percent of oil exports growth over the next quarter century and this percentage will increase in the event completed all plans and projects the giant ».

Iraq is seeking to be the most important exporters of gas to Europe, because it is one of the main countries with large and promising fields for the production of this article.

In turn, senior agent of the Ministry Fayyad blessing said in an earlier statement» Sabah »: that Iraq has the potential productivity future subsidized oil contracts a huge global companies within the licenses fields, in addition to the ministry 's plans to invest in energy (hydrocarbons), Macesed from Iraq 's international status to meet future demand and promote sustainable economic growth which, in order to compensate for the shortfall international supplies to feed the market 's oil needs in the future.

And managed oil Ministry to increase oil production volume to 4.7 million barrels per day , including the product in Kirkuk and the Kurdistan region of the province, declaring that the daily export volume reached 3.9 million barrels per day in the completion of checks for the first time in the history of Iraq.