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Al-Allaibi: Iraqi reserves will rise to 230 billion barrels of oil
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Oil Minister Jabbar al-Luaibi said on Monday that Iraq's proven crude oil reserves will rise from 153 to 230 billion barrels if exploration activity expands, declaring that the gas burning will be completely halted in 2022.
"The fixed reserves of crude oil is 153 billion barrels, and the infiltration of Iraq among the OPEC countries comes second and fourth in the world, but if you ask me as an engineer in oil, I say that the reserve Iraq is much more than that. If the exploration activity is intensively activated, the proven reserves may reach 230 billion barrels, but because of the wars in the country, the exploration is much delayed. "
"The proven reserves are 135 billion cubic feet, and this is also the first, and if the expansion of the exploration area, it is 250 billion cubic feet, throughout the country."
The minister pointed out that "Iraq was losing annually from 7 to 8 billion dollars, because of the burning of gas accompaniment, so the ministry sought through its contracts to prevent it, and after 2003 Iraq signed a contract with Shell to invest about 40 percent of the South gas, but they did not As well as signed a contract with a US company to invest Nasiriyah gas with a capacity of 200 million cubic feet. "
"Our plans in the ministry are going to burn one drop at the end of 2022, by investing all the gas associated with oil extraction operations while completing the main gas infrastructure."
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