Iraqi Oil Minister calls on companies to develop 13 oil fields
An aerial view of Majnoon oil field near Basra, Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, called on international companies on Monday to participate in developing 13 oil fields and exploration sites in northern, central, and southern governorates, the state news agency (INA) reported.
Abdul-Ghani explained that the step aims to enhance oil and gas production and reserves, and to encourage investments in the oil sector in cooperation with international companies specialized in developing oil and gas fields, INA mentioned.
In March, the Iraqi Oil Minister stated that the government would offer licenses to develop more than ten exploration sites in western Iraq, most of which are for gas, and indicated plans for large investments in the oil sector within the next five years.
The spokesperson of the Ministry of Oil, Assem Jihad, emphasized that the Oil Ministry is keen to support operating companies and to provide the appropriate environment, to achieve common goals and interests.
The Iraqi Oil Minister inaugurated last Friday the experimental water injection project in the Majnoon oil field, with a capacity of 80,000 barrels per day.
Abdul-Ghani also laid the foundation stone for a gas project with a capacity of 120,000 barrels per day in the Majnoon field.
The Iraqi Ministry of Oil resumed oil production and exports from the Al-Qayyarah oilfield, with a capacity of 33,000 barrels per day.