Ministry of Oil: Our oil exports since the beginning of August have reached two million barrels per day
Oil Minister Bassem Mohammed Khudair announced on Friday the opening of the central gas processing plant in the Al-Faihaa oil field. He also noted that four oil tankers are currently carrying Iraqi crude for export. He confirmed that oil exports have reached two million barrels per day since the beginning of August. Khudair stated in a joint press conference with Basra Governor Asaad Al-Eidani that “the ministry is proceeding with the implementation of service and community projects in the oil-producing areas, in coordination with the local government and the representatives of Basra Governorate,” pointing out that “the investment of oil and gas wealth is accompanied by the implementation of projects that serve the residents of the areas surrounding the fields.”
He also explained that “these projects come within the Ministry of Oil’s program and in direct coordination with the local government, through working as one team to achieve the best projects and reduce the suffering of the Iraqi citizen, especially in Basra.”
He added that “the directives of Prime Minister Ali Faleh Al-Zaidi confirm that investment must be accompanied by the establishment of service and community projects that serve the residents of the regions,” indicating that “the vision of the Ministry of Oil is based on making all governorates oil and gas governorates, which contributes to improving their economic conditions.” EconomicReform analysis
He also pointed out that “licensing rounds will provide an increase in production capacities and additional quantities of gas, as well as attracting manpower, reducing unemployment, and building oil and gas industrial infrastructure,” stressing that “building human beings comes in parallel with building oil infrastructure, as there is no oil infrastructure without human infrastructure.”
He pointed to the “continuation of service projects in Basra,” stressing that “the ministry is working in coordination with the local government to address service issues, including water, and to support projects that serve citizens.”
He noted that “the Ministry of Oil seeks to achieve self-sufficiency in gas and increase production capacities at the production and export levels,” explaining that “the central gas processing plant that was opened today in the Al-Faihaa field has a capacity of 130 million standard cubic feet per day, while the oil capacity of the field is 100,000 barrels per day.”
He also explained that “UAE is investing in three important fields in the south, namely the Faihaa field, the Siba gas field, and the Faw exploration area,” noting that “the initial signs of exploration operations in Faw have shown the presence of oil and gas, which is a new boon for Iraq.”
Regarding oil exports, the minister said: “Negotiations are underway with the concerned parties,” noting that “there are four oil tankers carrying crude oil, and that exports since the beginning of the month have reached an average of two million barrels, while exports for the seventh month reached about 49 million barrels,” stressing that “the staff of the Ministry of Oil, represented by the Oil Marketing Company, the Basra Oil Company and other companies, are making exceptional efforts to maximize exports,” pointing out that “more than 85 percent of the budget depends on exports.”
Regarding pipeline networks, he explained that “a consortium comprising Chevron and the Qatari company UCC will implement a pipeline from Basra to Fishkhabur, with a line extending from Haditha to Banias,” indicating that “the Ministry and the government’s strategy is based on multiple export outlets, with the Strait of Hormuz remaining one of the important outlets, in addition to Ceyhan.”
He stressed that “the Basra-Fishkhabur pipeline project will provide access to oil for all refineries, and thus maximize exports via Ceyhan, in addition to Banias,” noting that “the project is old, but it was disrupted due to financial circumstances, and the ministry is proceeding with its implementation along with other projects to modernize the infrastructure for production and export, maximize financial revenues and attract manpower.”
Burathanews.com