Iraq's new Dhi Qar Oil to oversee 2 oil fields

Iraq's newly established Dhi Qar Oil Company will oversee four oil fields including Garraf and Nasiriya which are already in production, a company executive said on Tuesday. Dhi Qar aims to boost production to about 200,000 barrels per day this year from 170,000 barrels a day currently, Kareem Yaseen, director for fields operations, told Reuters by phone. These fields were overseen until now by state-run South Oil Co, the main producer in the southern regions where Iraq pumps most of its crude. The oil ministry announced the establishment of Dhi Qar Oil Co. on its website on Tuesday as well as the renaming of South Oil Co as Basra Oil Co. Garraf is currently producing about 100,000 barrels per day and Nasiriya 70,000, Yaseen said. Dhi Qar will seek to bring the Saba field on stream this year with an initial output of 30,000 barrels per day, he said. He provided no details on when the fourth field under its supervision, al-Aamoud, would be developed.