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Shafaq News/ The Deputy Prime Minister for Energy Affairs, Minister of Oil, Hayan Abdul-Ghani confirmed, on Monday, that the ministry's goal is to move the "Eridu" oil field, from the exploration stage to a productive field with a capacity of 250,000 barrels per day, while he indicated that the field is one of the projects promising to be developed.
This came during the ceremonial signing of the commercial advertisement contract and development plan for the Eridu oil field within the tenth exploration block, in Muthanna and Dhi Qar governorates, according to a statement received by Shafaq News Agency.
Abdul-Ghani explained, according to the statement, that "the ministry aims to move the Eridu field from the stage of exploration activity to the stage of actual production, as expectations indicate the volume of oil reserves of more than 12 billion and 900 million barrels."
He added, "The planned production of the Eridu field, in the development program for its first phase, will reach an average production of (30,000 barrels per day) in 2025, reaching the planned peak production, at a rate of (250,000 barrels per day) according to the agreement with the operator of the tenth exploration block."
The Iraqi minister pointed out the date of the discovery of the Eridu oil field, which dates back to 2016, and is located within the area and activity of the tenth exploratory block, as it was announced at the time after the completion of the results of the two-dimensional seismic surveys, then the evaluation process followed through the implementation of seismic surveys. 3D, drilling a number of exploration and appraisal wells, and conducting studies and laboratory tests during the exploration and evaluation periods.
And he continued: "In the last quarter of 2021, the operator submitted the commercial discovery announcement, which included (results, conclusions, and a preliminary development proposal), and it was approved by the Ministry of Oil after extensive discussions and reviews by the relevant authorities in the ministry."
Abdul-Ghani noted that "the development of the Iridu field contributes to the development of the economic reality by providing job opportunities for the people of the two governorates (Dhi Qar and Al-Muthanna) and for secondary contractors and other service sectors that move and are active with the presence of these companies operating there, and this helps to increase the percentage of growth and economic activity in these cities.
For his part, spokesman for the Ministry of Oil, Assem Jihad, said, "The development of this field came within the ministry's plans to sustain and increase oil and gas production from the fields and exploratory patches scattered throughout Iraq."
Jihad stated, "One of the most important goals of developing the tenth exploration block and targeting the reservoirs produced in it by the ministry is to convert the exploration blocks into oil and gas-producing fields in cooperation with international companies, and work to advance the economic reality of the governorates of Dhi Qar and Muthanna, and achieve the goals of sustainable development for these governorates." ".
On the other hand, an informed source told Shafaq News Agency, "The cost of the investment contract amounted to 32 billion US dollars, and its investment period ranges from 10 to 15 years, extendable for a period of 25 years."
The source reported, "The contract will work to provide 5,000 job degrees in the first six months of direct entry, and they will be equally between Muthanna and Dhi Qar, provided that the total degrees provided by the contract at a later time are 12,000 job degrees, with 8,000 degrees for Dhi Qar, and 4 degrees." Thousands of degrees for Muthanna.
The signing ceremony between the Dhi Qar Oil Company and the operator of the "Eridu" oil field was attended by the consortium of the Russian "Lukoil" and the Japanese "Inpex", representatives of the Ministry of Oil, the governor of Dhi Qar, the governor of Al-Muthanna, and a number of officials in national and foreign departments and companies.
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