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Iraqi Oil: We seek to maintain and develop production by digging more wells
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Mubasher: The Iraqi Oil Ministry set, today, Wednesday, a plan to maintain production rates from oil fields, while noting that the agreement to restrict production according to the OPEC + agreement is for a specific period, which is no longer needed by the demise of challenges and circumstances.
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And the Undersecretary of the Ministry of Oil for Extraction Affairs, Karim Hattab, said in a statement to the Iraqi News Agency "conscious" that "one of the goals and plans of the Ministry of Oil is to work to maintain, develop and increase production for oil fields by supporting projects for the construction of pumping stations, insulation, infrastructure, pipelines and digging more wells to maintain rates. production, whether through the national effort represented by the Iraqi Drilling Company or through contracting with reputable international companies.”
And he indicated that "the Iraqi Drilling Company is implementing drilling projects in a number of oil fields, and there is great support from the ministry to enhance the role of the national effort in this framework."
He pointed out that "the contract with Schlumberger International to drill 96 new oil wells in the "West Qurna 1" field in the south of the country aims to maintain and enhance production plans in this field, which is one of the large and important fields."
He explained that "the oil fields begin to produce gradually, depending on what is extracted from the oil wells, until they reach the peak of production and extend for years, and then begin to decline in production, and this requires support and maintenance of production by drilling more oil wells to achieve the goals of maintaining production."
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Iraqi Ministry of Oil
July 29, 2021 12:26 PMMubasher: The Iraqi Oil Ministry set, today, Wednesday, a plan to maintain production rates from oil fields, while noting that the agreement to restrict production according to the OPEC + agreement is for a specific period, which is no longer needed by the demise of challenges and circumstances.
[ltr]
Volume 0%
[/ltr]
And the Undersecretary of the Ministry of Oil for Extraction Affairs, Karim Hattab, said in a statement to the Iraqi News Agency "conscious" that "one of the goals and plans of the Ministry of Oil is to work to maintain, develop and increase production for oil fields by supporting projects for the construction of pumping stations, insulation, infrastructure, pipelines and digging more wells to maintain rates. production, whether through the national effort represented by the Iraqi Drilling Company or through contracting with reputable international companies.”
And he indicated that "the Iraqi Drilling Company is implementing drilling projects in a number of oil fields, and there is great support from the ministry to enhance the role of the national effort in this framework."
He pointed out that "the contract with Schlumberger International to drill 96 new oil wells in the "West Qurna 1" field in the south of the country aims to maintain and enhance production plans in this field, which is one of the large and important fields."
He explained that "the oil fields begin to produce gradually, depending on what is extracted from the oil wells, until they reach the peak of production and extend for years, and then begin to decline in production, and this requires support and maintenance of production by drilling more oil wells to achieve the goals of maintaining production."
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