Baghdad – WAA – Karar Khalil
The Ministry of Oil revealed, on Saturday, a plan to increase production to 6 million barrels by 2028, while confirming that drilling the multi-arm well saves $3 million for the state treasury.
The Deputy Minister of Oil, Bassem Mohammed Khudair, said in a statement to the (INA): “The ministry has an ambitious plan to support and maintain production to secure the quantities required for export,” noting that “the ministry seeks to reach production of 6 million barrels during the year 2028 and achieve self-sufficiency in the amount of gas required for energy and industrial uses.”
He added, “Some of the projects in the northern region were referred to the Chinese company ZBK,” indicating that “Well No. 89, which is called the multi-arm well, was drilled, as its benefit is firstly that it provides high technology and economic financial abundance.”
He pointed out that “the multi-lateral well saves the state $3 million, in addition to providing double production compared to the previous traditional method,” explaining that “the ministry seeks to invest in the fields with the latest global technology.”
He added, “EPS Company also succeeded in investing in the East Baghdad field and reaching the targeted production capacities according to the contract to 40 thousand barrels and aspires to increase it,” indicating that “this field supplies the Al-Quds Power Station and the Dora Refinery with quantities of oil exceeding 43 million liters.”