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Disclosure of a strategic project to increase Iraq's oil and gas reserves
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Economy News - Baghdad
The Oil Exploration Company of the Ministry of Oil revealed, on Thursday, a strategic project to increase Iraq's reserves of oil and gas, which is hoped to be implemented on the borders with 4 countries.
The company's director, Ali Jassim Hammoud, told the official news agency, "The company has a strategic project represented by exploratory drilling, which will contribute to increasing oil reserves, compensating the depleted, and confirming the presence of hydrocarbons in various oil fields."
He stressed that "exploratory drilling operations will contribute significantly to increasing oil and gas reserves, and will include various border fields with Iran, Kuwait, Syria and Saudi Arabia."
He added, "The exploratory drilling project collides with sufficient financial allocations for its implementation, especially in the common border fields," noting that "the annual allocations and budgets allocated to the company are no different from those of extractive companies and need to be increased because the lack of allocations constitutes an obstacle to the implementation of projects."
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Added 11/10/2022 - 9:14 PM
Update 11/11/2022 - 1:37 PM
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Economy News - Baghdad
The Oil Exploration Company of the Ministry of Oil revealed, on Thursday, a strategic project to increase Iraq's reserves of oil and gas, which is hoped to be implemented on the borders with 4 countries.
The company's director, Ali Jassim Hammoud, told the official news agency, "The company has a strategic project represented by exploratory drilling, which will contribute to increasing oil reserves, compensating the depleted, and confirming the presence of hydrocarbons in various oil fields."
He stressed that "exploratory drilling operations will contribute significantly to increasing oil and gas reserves, and will include various border fields with Iran, Kuwait, Syria and Saudi Arabia."
He added, "The exploratory drilling project collides with sufficient financial allocations for its implementation, especially in the common border fields," noting that "the annual allocations and budgets allocated to the company are no different from those of extractive companies and need to be increased because the lack of allocations constitutes an obstacle to the implementation of projects."
Views 343
Added 11/10/2022 - 9:14 PM
Update 11/11/2022 - 1:37 PM
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