Iraqi oil reserves 500 billion barrels

Iraqi oil reserves 500 billion barrels


Palm – The spokesman for the Iraqi Oil Ministry, Asim Jihad, the oil reserves of Iraq of about 500 billion barrels, pointing at a workshop to exchange experiences press organized by the Italian news agency (Aji) in Baghdad and attended by media figures are Iraqis, that the updated data for the first time in decades on the reserve Iraq’s oil wealth of the firm, showed that the size of 143 billion barrels, indicating that these data can be increased as it accounted for 64 oil fields only.

He expected the jihad, to hit Iraq’s oil production to three million barrels per day by the end of this year, hoping to increase the pace of production in the coming years to up to ten million barrels a day, in the light of the contracts licensing rounds development signed by the Oil Ministry with international companies specialized in the field oil production and the development of the oil industry.

In addition, did not rule out the Chairman of the Energy Commission in the province of Maysan in southern Iraq, Amer Nasrallah, that «up the production of Maysan fields to one million barrels per day in 2016, pointing out that the increase will be the outcome to develop the field Halfaya by a group of Chinese companies, Malaysian, French, and the amount of up to 535 000 barrels per day.

Previously, this group of companies that won a contract to develop the Halfaya oil during the second licensing round, one of the giant fields in Maysan located in the city of Amara, 400 km south of Baghdad.

Nasrallah pointed out that the increases will be remaining after the end of the Company (Ford Odhir) U.S. drill 20 oil wells and rehabilitation, and the completion of drilling six wells in the fields of light and architecture by the petroleum company drilling wells in Iraq.

The production capacity of oil fields in Maysan, more than 100 thousand barrels per day, and includes the geographical area of ​​the province of Maysan six producing fields are Bazerkan, the father of the West, loose change, Halfaya, architecture, and the Majnoon field in partnership with the South Oil Company, also includes five fields unexplored and unproductive is Hovaiza, Rafii, the eastern tributaries, Dujailah and dun.