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Ministry of Oil signs contracts to develop 13 exploration blocks and oil fields
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Baghdad Today - Baghdad
The Ministry of Oil announced, on Wednesday (August 14, 2024), the signing of contracts to develop 13 exploration blocks and oil fields in the country, indicating that they will add large quantities of oil production estimated at 750,000 barrels per day.
The ministry said in a statement received by "Baghdad Today", "Minister of Oil Hayan Abdul Ghani stressed the ministry's keenness and serious efforts to maximize oil production, in addition to optimal investment of gas through the development of oil and gas fields and exploration areas."
She added that "13 initialed contracts were signed with the winning companies to develop the fields and exploration blocks within the fifth and sixth supplementary licensing rounds."
The ministry explained that "these contracts will add large quantities of oil production estimated at 750 thousand barrels per day, in addition to investing 850 cubic meters per day of gas," noting that "these quantities and production and investment capacities of gas aim to achieve flexibility in equipping power generation stations with gas fuel, in addition to supporting the energy sector in Iraq.
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