Iraq targeted revenue of 200 billion dollars annually
03 October 2014 12: 33 pm
Oil Minister Abdul Kareem luaibi, Iraq seeks to achieve revenues of around $ 200 billion a year through the sale of oil, new oil exploration, adding that the country could raise oil reserves by more than 3 billion barrels during exploration well in Maysan oil field Dima.
Winfred said in a speech at the Conference "Iraq's oil industry after a decade of achievements and challenges" held today in Baghdad, according to the Sumerian "news," "Iraq in the past three years was able to increase oil production and export, and the large shortfall in global production in coordination with OPEC to reduce the volatility of international prices," Noting that "Iraq seeks to achieve revenues of up to $ 200 billion annually during the period ahead."
"Iraq will be able to through these financial resources to reconstruction and the provision of basic services to citizens during the next five years," adding that "Iraq will develop a strategy for production line with fundamental factors, including the need for financial resources and the sustainable production of petroleum resources for as long as possible."
Winfred said that "Iraq has sought to bring the production to nine million barrels per day in the coming years, which means the drain 2 billion and 500 million barrels a year, so the Ministry's plan requires that there be a new explorations with this rise," pointing out that "Although there is an oil field in Iraq 75 it is unexplored country because most of the areas where exploration has been important, especially regions West of the country."
Winfred stressed that the Ministry has been able to develop an exploratory after five teams with the latest equipment, which is used in the lining of the exploration drilling two wells, one field in Maysan oil Dima, who led exploration to raise up Iraq for more than three billion barrels, along with a second well in the field of Sinbad in Basra, which is still underway, and is expected to contain large amounts of gas.
The Minister said that the Ministry has negotiated with major oil companies to establish working partnerships in exploration, especially that there are important unexplored areas to ensure the largest possible continuous oil and natural gas. "
Iraq has about 530 complex geology, giving strong indications that huge oil and how much was excavated from these structures only 115 including 71 proved to contain massive oil reserves that span many fields, while the Iraqi fields discovered 71 field and not only exploits 14 fields, including ten giant.
And showing Iraq oil fields during the first and second licensing round for development by global companies to produce at least six million bpd in 2017.
Iraq's crude exports from the ports of Basra and Khor Al-Amaya in the Persian Gulf, as well as to the Turkish port of Ceyhan on the Mediterranean, through tankers to Jordan.
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03 October 2014 12: 33 pm
Oil Minister Abdul Kareem luaibi, Iraq seeks to achieve revenues of around $ 200 billion a year through the sale of oil, new oil exploration, adding that the country could raise oil reserves by more than 3 billion barrels during exploration well in Maysan oil field Dima.
Winfred said in a speech at the Conference "Iraq's oil industry after a decade of achievements and challenges" held today in Baghdad, according to the Sumerian "news," "Iraq in the past three years was able to increase oil production and export, and the large shortfall in global production in coordination with OPEC to reduce the volatility of international prices," Noting that "Iraq seeks to achieve revenues of up to $ 200 billion annually during the period ahead."
"Iraq will be able to through these financial resources to reconstruction and the provision of basic services to citizens during the next five years," adding that "Iraq will develop a strategy for production line with fundamental factors, including the need for financial resources and the sustainable production of petroleum resources for as long as possible."
Winfred said that "Iraq has sought to bring the production to nine million barrels per day in the coming years, which means the drain 2 billion and 500 million barrels a year, so the Ministry's plan requires that there be a new explorations with this rise," pointing out that "Although there is an oil field in Iraq 75 it is unexplored country because most of the areas where exploration has been important, especially regions West of the country."
Winfred stressed that the Ministry has been able to develop an exploratory after five teams with the latest equipment, which is used in the lining of the exploration drilling two wells, one field in Maysan oil Dima, who led exploration to raise up Iraq for more than three billion barrels, along with a second well in the field of Sinbad in Basra, which is still underway, and is expected to contain large amounts of gas.
The Minister said that the Ministry has negotiated with major oil companies to establish working partnerships in exploration, especially that there are important unexplored areas to ensure the largest possible continuous oil and natural gas. "
Iraq has about 530 complex geology, giving strong indications that huge oil and how much was excavated from these structures only 115 including 71 proved to contain massive oil reserves that span many fields, while the Iraqi fields discovered 71 field and not only exploits 14 fields, including ten giant.
And showing Iraq oil fields during the first and second licensing round for development by global companies to produce at least six million bpd in 2017.
Iraq's crude exports from the ports of Basra and Khor Al-Amaya in the Persian Gulf, as well as to the Turkish port of Ceyhan on the Mediterranean, through tankers to Jordan.
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