Oil Minister confirms that Iraq is planning to produce 5 million barrels per day



Views 475 Added 12/02/2017 - 20:12

Economy News / Baghdad ...



Detection and Oil Minister Jabbar and coffee, on Sunday, a plan of the ministry to export oil through the port of Aqaba, Jordan, and among the common oil wells problem on the border with Kuwait and Iran can be resolved through the signing of partnership contracts in the production, as he emphasized that Iraq plans to produce five million barrels per day .

He said in a statement Laibi I followed "Economy News" that "the common wells with Kuwait can be resolved through the signing of partnership contracts in the production, we are moving in this direction, even with common fields with Iran to resolve this file."

He explained that "there are seven oil fields with Iran in Maysan province, as well as with the State of Kuwait, and we are currently working with Kuwait in order to export natural gas to it, which is the first time that occur in Iraq."

Laibi "The licenses that Iraq has signed with the Iraqi oil companies rounds yielded raise production rates to double what it was, and we are soon to reach the production level of five million barrels per day, in addition to our transformation from a country wasted all the associated gas into a product of this Article."

He pointed out that "the Basra Gas Company was formed for the purpose of forging partnerships with foreign companies signed a contract with the company« Shell »Global, and now work is in good shape between the two companies, and there are good relations with the Arab Republic of Egypt in this area. There are also agreements will be held in this aspect and there to export oil to the Jordanian port of Aqaba line, which is very important. "

On the possibility of the development of national oil companies, the minister said that "Iraq Racing said in this area, was there the national oil company, which was founded mid-fifties of the last century and had a board of directors manages the business and became the first company in the world. However, the former regime to resolve this company in the eighties and associated oil Ministry, which is the Ministry of planning, and now seek to pass legislation to restore this company, as well as the establishment of a national gas company. "



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