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Baghdad: Saad Al-Sammak
The National Oil Company has launched programs to significantly expand the volume of exploratory drilling for gas and oil reservoirs, in the western and southern regions of the country, to support the commercial viability of unconventional resources and huge investments to produce cheap energy before the year 2035.
In an interview with Al-Sabah, the Minister of Oil and Chairman of the National Oil Company, Ihsan Abdul-Jabbar, announced the start of the activities of the Oil Exploration Company (OEC) in the areas: western Ramadi, Basra and Maysan in the east, with the aim of increasing the volume of proven crude reserves, and accessing deep gas reservoirs to enhance The country’s capabilities to produce billions of cubic meters of free gas per day, to secure the fuel of gas power plants by 80% annually during the coming period.
He revealed that "Securing the financial self-financing of the exploratory program is taking place on a regular basis despite the absence of a clear program for exploratory drilling for years, as a result of the failure of successive departments in the ministry to keep pace with global technological development in front of development and investment opportunities in the country."
Regarding the details of the National Oil Company’s plan in the associated gas investment sector for the years 2021 and 2022, Abdul-Jabbar explained that “despite the country’s unfavorable conditions, the plan aimed at investing 2500 million (MQM) and ending by 2024, includes the completion of two investment projects of 300 million MQM in the Halfaya field. east of Maysan.
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