Iraq is negotiating to increase fuel production .. Emirates reconsider the project of oil in Kurdistan


01/05/2016

Union: start TAQA (energy) production in the Atrush project in the Kurdistan region, card 30 thousand barrels of oil. And got (energy) in the year 2013, the approval of the Iraqi Kurdistan Regional Government on the first phase of the development Atrush oil field which is located about 85 kilometers northwest of Erbil plan. The (energy) has suspended its activities at the end of 2014 Atrush field after the battles with al Daash.
And allow the approval of the Kurdistan Regional Government on the development of privilege can plan whereby the field (energy) and its partners to extract the maximum possible amount of oil available oil resources there over 25 years. Field was discovered in 2011.
The growing importance of Iraqi Kurdistan oil province in terms of the huge investment opportunities that abound in the field, which was discovered in 2011.
On the other hand, oil Crescent report attributed to the Iraqi Oil Ministry as saying it was in negotiations with each of the two PetroChina and Exxon Mobil, about investing in projects worth billions of dollars, to increase production of small oil fields in the south of the country. And it attributed to the Deputy Director General of the South Oil Company, the state-run, saying that his company is seeking to attract investment from one or both of the two companies to build the necessary infrastructure to increase the production of the fields operated.
The total production of those fields currently 240 thousand barrels per day of crude oil, and is planning the start of the Southern Oil Company to increase it to 350 thousand barrels per day in 2016.
Iraqi Oil Ministry said that oil production in the fields developed by international companies, under service contracts in the oil licensing rounds rose at a high rate. The ministry said that production at the West Qurna / 2 field, exceeded 30 million tons of crude oil since the beginning of the field production in March of 2014. The ministry added that the daily production of the field averaged 450 000 barrels per day, and that the total quantities produced for 2015, amounted to 20 million tons of crude oil.
It is noteworthy that the West Qurna / 2 field, won Ptohelh Lukoil Russian oil company, and is one of the largest oil fields in the world, is located in the province of Basra.
The total production of those fields currently 240 thousand barrels per day of crude oil and plans SOC beginning to increase it to 350 thousand barrels per day in 2016. It consists South integrated project of construction of oil pipelines and storage facilities and project to pump sea water from the Gulf to maintain pressure and enhance oil recovery .
The Iraqi oil exports reached record amounts over the past year 2015. According to the Iraqi Oil Ministry statistics, the average Iraq's crude oil exports amounted to 3.2 million barrels per day since the beginning of this June.
According to data from shipping vessels and the statements of sector source quoted by Reuters, the average exports from the southern ports of Iraq stood at 3 million barrels per day in the first half of June, up from 2.69 million barrels per day in the entire May. And shipments jumped after Iraq's decision to divide the raw varieties of Basra and heavy Basrah Light to solve quality problems.
Said Gatti al-Jubouri, Senior Vice President in the company "Lukoil Overseas" (the external arm of Russia's Lukoil oil), which holds the development of the "West Qurna 2" field in Iraq, at a conference in London for the Iraqi oil industry: "Now after the start of export Basra heavy there is no longer what inhibits our production. " Iraq and aspires to continue to increase exports in 2015 to reach the level of 3.3 million barrels per day.
Iraq sells oil from the Basra crude large decisively in Europe and America markets, where reports in London recorded sold to shipments of oil at around $ 30 a barrel, but did not rule out experts to be the Iraqi Oil Ministry has sold its oil at less than $ 30 to US refineries. Iraq is exporting more than 600 thousand barrels per day to US refineries.

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