, Saturday, the Ministry of Oil determined the volume of current production of crude oil, while confirming that the majority of the exploration blocks within the sixth new licensing round will be gas.
The ministry's spokesman, Assem Jihad, told the Iraqi News Agency (INA): "Iraq is determined by OPEC to produce a certain amount of crude oil according to the agreement, as it currently produces about 4,600,000 barrels."
He added, "Iraq can increase production, but that is linked to the market's need," noting that "increasing production depends on a realistic reading of the market's need and the local need for refineries and electric power stations."
Regarding the sixth licensing round, Jihad stressed that "the previous fifth round included gaseous and oil hydrocarbon structures," pointing out that "the ministry is now preparing to launch a new round of exploratory sites and blocks with structures, most of which will be gaseous in the western region."
He continued, "The goal of the government and the ministry is to give priority to the gas sector and take care of it."[/size]
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