Oil Minister: plan to raise production to five million b/d by the end of 2017

2017-04-02


The oil Minister said Jabbar allaibi, said Sunday that Iraq is planning to increase crude production capacity to 5 million barrels a day by the end of the year 2017.

Allaibi said during an Energy Forum held in Iraq Baghdad Iraq will continue in parallel with exploration plans to increase its reserves to the equivalent of 15 billion barrels in 2018 to reach 178 billion barrels. "He added that plans to increase production capacity from existing fields include a plan to inject seawater.

"Allaibi referred to, "the oil Ministry has prepared plans to produce four types of oil," he managed to add 10 billion barrels of oil reserves, and by next year we'll add 15 billion barrels of oil.

He said that "Iraq has arrived for the first time to export tons per day of liquid gas, adding," We hope to export 7000 tons per day of liquid gas.


The oil Minister announced that this year will bring more 20 000 barrels of gasoline, "" imported within one year to two billion dollars in oil derivatives.

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