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Oil: Efforts to maximize national production through developing hydrocarbon structures
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Economy News - Baghdad
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Added 06/09/2024 - 4:25 PM
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Economy News - Baghdad
On Sunday, the Ministry of Oil announced efforts to attract foreign investments to maximize national production through developing hydrocarbon structures.
The spokesman for the Ministry of Oil, Assem Jihad, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the Ministry of Oil seeks to maximize national production by developing hydrocarbon structures and the wealth existing in the ground, whether gas, oil, or shared wealth.” Proportions of both.
Jihad added, "The Ministry, through licensing rounds, sought to showcase the compositional patches for which the western region is famous, and to transform them into reserves or productive fields, thus enhancing national production, whether of gas or oil."
He pointed out that "a group of exploratory blocks were presented in the last round," expressing his hope to "attract foreign investments in order to transform these structures into gas or oil fields that support Iraqi national production."
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