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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq's oil production is 35% less than it is supposed to over 20 years... and it will not succeed in

    Rocky
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    Iraq's oil production is 35% less than it is supposed to over 20 years... and it will not succeed in Empty Iraq's oil production is 35% less than it is supposed to over 20 years... and it will not succeed in

    Post by Rocky Fri 19 Aug 2022, 5:31 am


    [size=30]Iraq's oil production is 35% less than it is supposed to over 20 years... and it will not succeed in reducing the difference soon

    2022-08-19
    [/size]
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    Yes Iraq: Baghdad

    Despite being the main source of Iraq's financial revenues, with a rate of more than 96%, the oil sector did not receive the attention it should, and the oil industry in Iraq remained lagging behind, approximately 35% compared to what it should be at the present time.
    Although Iraq’s oil production increased compared to 2003 and based on licensing rounds and foreign companies, it remained less than assumed, while Iraq’s production capacity at the moment is 4.6, yet it cannot meet all of it, at a time when Iraq’s production capacity should currently be about 7 million barrels per day.
    The oil expert, Hamza Al-Jawahiri, says that “corruption and some parties are the ones that prevented from raising Iraq’s oil production to 7 million barrels per day now, through their interventions in stopping some projects, adding that Exxon Mobil Corporation submitted an offer in 2011 to implement the sea water project, but it was stopped by a hand. corruption.
    He pointed out that Iraq's oil production is now supposed to reach 7 million barrels per day, but today it reaches 4.6 million barrels.
    Commenting on the statements of the Ministry of Oil to reach production of 8 million barrels per day in 2028, i.e. within 6 years, Al-Jawahiri considered that “it is difficult for Iraq’s production to reach 8 million barrels per day, due to the failure to implement the sea water project, which transfers water from the sea into the fields. Noting that "the implementation of this project needs 3 years with hard work, in addition to digging wells and building an electricity system."
     
    Weak extractive capacity
    In previous statements, the assistant director of the Basra Oil Company, Ahmed Adham, admits; There is a problem related to increasing production due to water injection problems, as the water injection capacity is currently 4 million barrels of water per day, which is not enough.”
    Adham added that the Basra Oil Company is taking a number of temporary measures in order to enhance the pumping of water into the oil fields in southern Iraq, pointing to "temporary measures we are taking to use groundwater for injection, but they are insufficient measures," according to Adham.
     
    Oil will not achieve more than 28% of its target
    While Iraq does not have the actual ability to raise its current production of oil to achieve its share of OPEC at least, the talks of the Minister of Oil to raise production within 5 to 6 years to 8 million barrels per day have become questionable and completely refuted by specialists, as it is estimated that Iraq even In 2028, it will not succeed in raising its production by more than 5.5 million barrels, meaning that oil will not succeed in achieving more than 28% of its target.
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