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Will Iraq be able to raise its oil production to 8 million barrels per day?

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rocky
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Will Iraq be able to raise its oil production to 8 million barrels per day?

Post by rocky on Wed 16 May 2018, 9:03 am

Will Iraq be able to raise its oil production to 8 million barrels per day?
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BAGHDAD - Oil expert Hamza al-Jawahiri said Wednesday that Iraq has the capacity to raise its oil production capacity to 8 million barrels per day or more, adding that the lifting of production should be gradual.
Al-Jawahiri told "Iraq News" that "companies that develop oil fields can increase their productivity to 8 million barrels per day or more, but the inhibitor is to absorb the markets to the quantities of oil," explaining that "Iraq has the potential to increase its production capacity of oil "He said.
He added that "this increase must occur gradually after four or five years and not a day or two days," noting that "the development plan submitted by Lukoil to raise production in the West Qurna 2 from about 450 thousand barrels to 800 thousand barrels start from now and end In 2025 and this means that in seven or eight years to be able to increase production capacity by only 350 thousand barrels. "
"The development of fields takes a long time to be able to raise the level of production," he said. "The more Iraq has oil reserves, the greater it can increase its productivity."
The newspaper "Life" London revealed on Tuesday, Iraq's aspiration to double its oil production to about eight million barrels per day to meet the debt burden and contribute to finance the reconstruction of liberated areas. Finished


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