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Iraq plans to increase its oil production capacity
(MENAFN)According to Asharq Business report, Iraq aims to improve its oil production capacity to 8 million barrels of oil per day by 2029, in comparison to current production of 4.8 million barrels per day, stated Iraqi Oil Minister Ihsan Abdul-Jabbar.
Production capacity to stand at 12 million barrels of oil per day, he further declared.
Current strategies do not oppose with the OPEC + deal to reduce production to preserve the stability of oil markets, he also stated.
The gradual improvement in production would be held via the country’s existing major oil fields, including the Majnoon, Zubair and Rumaila fields —that have the ability to increase their production, stated oil minister.
Production capacity to stand at 12 million barrels of oil per day, he further declared.
Current strategies do not oppose with the OPEC + deal to reduce production to preserve the stability of oil markets, he also stated.
The gradual improvement in production would be held via the country’s existing major oil fields, including the Majnoon, Zubair and Rumaila fields —that have the ability to increase their production, stated oil minister.
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