Iraq’s oil reserve enough for 100 years- minister

KARBALA / IraqiNews.com: Iraqi Minister of Oil Hussein al-Shahrestani on Saturday said that Iraq has an oil reserve that will suffice for the next 100 years. “Iraq has an estimated 400 geological compositions that have not yet been discovered,” the minister told several reporters, including a correspondent for IraqiNews.com news agency, during his visit to Karbala city today. “Explored oil in Iraq reaches 115 billion barrels,” the minister said, adding that oil excavation companies will even increase Iraq’s reserve of crude oil. “This will make Iraq home to the world’s largest oil reserve,” he noted. SS (P)/SR 1