The Iraqi Ministry of Oil signed contracts to develop 13 exploration areas and oil fields, adding about 750 thousand barrels per day to the country’s oil production.
According to the Iraqi News Agency, the Iraqi Ministry of Oil said in a statement that “these contracts will add large quantities of oil production estimated at 750 thousand barrels per day, in addition to investing 850 million standard cubic feet per day of gas.”
The statement added 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.”
The statement explained that “these contracts will be sent to the Ministerial Council for Energy to obtain approvals for the purpose of final signing of the contracts to begin implementing the development operations.”
The statement indicated that “these projects will improve the country’s economic situation and provide the quantities of gas required for self-sufficiency.”
Iraq is one of the major countries in oil production and export, as it represents 90% of the country’s general budget resources.
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2024-08-17 08:16:22