Alsumaria News / Baghdad
The Minister of Oil Abdul-Karim and coffee, on Saturday that Iraq is seeking to achieve financial income up to 200 billion dollars a year through the sale of oil and work on theexploration of new oil, stressing that thecountry was able to raise its reserves of crude oil increased by more than three billion barrels during theexploration well field Dima oil in Maysan.
A coffee in a speech during theconference on "Iraq's oil industry after ten years of achievements and challenges", which was held today in Baghdad and attended "Alsumaria News", "Iraq has managed during thepast three years to increase oil production and export, replenish significant progress in World production in coordination with theOrganization of Petroleum Exporting Countries, in addition to the reduction of thefluctuation of international prices, "adding that" Iraq seeks to achieve revenues of up to 200 billion dollars annually in the coming period. "
He added that "Iraq will be able through this financial resources on rebuilding and reconstruction and theprovision of basic services to thecitizens during the period of the next five years," noting that "Iraq will develop a strategy to produce in line with fundamental factors, including the need for financial resources and sustainable production of petroleum resources for thelongest period possible." .
He Laibi that "Iraq has sought to reach production to nine million barrels per day in the coming years, which means the depletion of two billion and 500 million barrels per year, so theministry's plan requires that there be new discoveries with this increase," pointing out that "despite the existence of 75 oil fields in Iraq, but he is one of the countries unexplored because most regions have not been theexploration task, especially areas west of thecountry. "
The coffee that "the ministry has been able to develop five teams exploratory yet equipped with the latest equipment, which has been used in exploratory drilling lining the two wells, one field Dima oil in Maysan, which resulted in theexploration of oil in it to raise thereserves of Iraq for more than three billion barrels, in addition to the well a second field Sinbad in Basra, which is still a work in progress, is expected to contain large amounts of gas. "
The minister pointed out that "theministry had negotiations with large foreign oil companies to establish working partnerships in exploration, and in particular that there are unexplored areas important to ensure thelargest possible reserves and ongoing oil and natural gas."
It contains Iraq to about 530 geological complexes, which gives strong indications of the existence of how a massive oil, did not dig these structures, only 115 of which 71 proved to contain huge oil reserves spread over several fields, while an Iraqi fields discovered 71 fields and did not take advantage of them only 27 fields, including ten giant.
Iraqoffered its oil fields during thefirst licensing round and the second for development by international companies to reach a production of at least six million barrels per day within theyear 2017.
It is noteworthy that Iraq is exporting crude oil from theports of Basra and Khor al-Amaya on thePersian Gulf, as well as the Turkish port of Ceyhan on the Mediterranean Sea, and through the truck by truck to Jordan.
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