Agency Energy: Iraq is capable of doubling its oil production within 3 years

19:54:11 2012-03-01 PUKmedia

Confirmed Energy Agency (IAEA) Iraq’s ability to double its oil production to more than one lesbian during the three years, but the pace of growth will slow sharply after that.

The chief economist of the International Energy Agency, Fatih Birol said in an interview with Reuters on Wednesday, said he believed that Iraq could reach the level of 6.5 million barrels per day by 2015, but it may take up to 20 years to reach the eight million barrels a day.

Birol said “many Iraqi officials who meet them are talking about 6.5 million barrels per day by 2015 I do not think that this is an unrealistic goal, of course, but there are still many challenges.”

Birol is visiting Iraq today to meet with officials and experts in the oil sector by the report of the Chief of the Energy Agency, the State of Iraq, scheduled for release in November in November 2012.

He said, “We expected the possibility to reach Iraq’s production to about eight million barrels per day in the next twenty years. May increase this or at least according to the global oil markets,” adding, “This is the eight million barrels a day that I said it the highest growth among all producing countries, if not met, we will be certainly in a difficult situation … in terms of scarcity of supply in the global oil markets. “

Birol said that the current oil price, which last week reached its highest level in ten months, the dollar and all-time highs in euro and the pound sterling too high for consumers have a negative impact on China and the Asian giants India in particular.

And concluded that Iraq has the fourth-largest reserves in the world contracts with major oil companies to raise production levels, which currently amounts to about 2.9 million barrels per day to up to 12 million barrels per day by 2017, aspiring to compete with Russia and Saudi Arabia, the largest producers in the world.