Oil Minister: Iraq will be able to produce (6) million barrels of oil per day in 2017

Oil Minister: Iraq will be able to produce (6) million barrels of oil per day in 2017

Date: 09/15/2012 18:19:51 Saturday

Baghdad (news) .. Guessed Oil Minister Abdul Karim and coffee and access Iraq’s oil production to (6) million barrels of oil during the year (2017), stressing that the cost of investments made by the ministry during the past two years amounted to more than (15) billion dollars.
said Laibi in an economic conference organized by the Iraqi Institute economic reform on the challenges of the oil industry in Iraq and attended the Agency (news) on Saturday: that the rate of oil production will rise gradually over the coming years, as will production rate (2.9) million barrels per day in (2013) In (2014) arrive to (3.7) million barrels per day, either year (2015) will reach (3.7) million barrels per day. added: while (2016) oil production will reach (4.5) million barrels a day, either in ( 2017) will reach (6) million barrels of oil a day, indicating that the increase achieved in production will lead to increased state revenues exponentially, according to prices of international oil. said Oil Minister: that the cost of investments made by the ministry after its contract with the international oil companies during the past two years amounted amounted to more than (15) billion dollars, adding: the obstacles that delayed the implementation of many of the contracts with companies including granting a visa for companies, airports and measures blood test for health institutions and overtaking on the fields and procedures of customs, in addition to financial measures of the ministry, as well as Alandmh The legislation adopted locally that are inconsistent with the laws of nations companies. pointed to: the lack of cooperation by government departments with the Oil Ministry in the implementation of contracts with international companies oil, pointing out: that the rate increases achieved by companies in production over the past years, ranging from (7% – 10%) and achieved before the period specified. Minister reviewed the achievements of the ministry achieved over the past years including the development of the fields despite the obstacles facing the ministry, including the Ahdab oil field, which was completed development period is less than (6) months and a much lower cost than specific to him and will production of the field to (140) thousand barrels during the coming year as well as other fields Kalafaah which was produced (70) thousand barrels and will rise production in the coming years, and also completed a period of less than specified for him, as well as other fields Kalgraf and crazy and others. / Finished / 8 . o. p /
Source: ikhnews