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$24.8 cost of oil production in the Qayyarah field
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Economy News-Baghdad
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Added 08/23/2023 - 12:48 PM
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Economy News-Baghdad
A document issued by the North Oil Company affiliated to the Ministry of Oil revealed that the cost of oil production in the Qayyarah field reached $24.8 per barrel.
The document of the company, addressed to the Minister of Oil and received by Al-Eqtisad News, stated that “the cost of oil production for the Qayyarah field for the period (January 2022 to September 2022) amounted to 24.8 dollars per barrel, depending on the actual production quantities, which amount to about 3000.” barrels per day due to the lack of a discharge outlet for the produced oil.
And she added, "In the event that production from the field resumes at 30,000 barrels / day, and based on the same data for the period referred to in (1) above, the cost of production will amount to about $3.2 per barrel."
And she indicated that "the Iraqi Oil Tanker Company made an offer of 12.5 dollars for the fee for transporting a barrel of crude oil from the Qayyarah field to the southern ports, which will result in debts owed by our company that must be paid," pointing out that "if the actual cost of production is added, the total cost of production per barrel It will be about $15.7 a barrel."
The document of the company, addressed to the Minister of Oil and received by Al-Eqtisad News, stated that “the cost of oil production for the Qayyarah field for the period (January 2022 to September 2022) amounted to 24.8 dollars per barrel, depending on the actual production quantities, which amount to about 3000.” barrels per day due to the lack of a discharge outlet for the produced oil.
And she added, "In the event that production from the field resumes at 30,000 barrels / day, and based on the same data for the period referred to in (1) above, the cost of production will amount to about $3.2 per barrel."
And she indicated that "the Iraqi Oil Tanker Company made an offer of 12.5 dollars for the fee for transporting a barrel of crude oil from the Qayyarah field to the southern ports, which will result in debts owed by our company that must be paid," pointing out that "if the actual cost of production is added, the total cost of production per barrel It will be about $15.7 a barrel."
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