Oil Ministry to increase East Baghdad oilfield production
A worker at Iraq’s Majnoon oilfield near Basra, Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, announced on Wednesday that there are plans to increase the production of the East Baghdad oilfield to more than 80,000 barrels per day, the Iraqi News Agency (INA) reported.
The Oil Ministry mentioned in a statement that Abdul-Ghani conducted an inspection visit to the East Baghdad oilfield.
Abdul-Ghani explained that his visit aims to follow up on projects that increase production and benefit from gas in this oilfield, which is one of the largest oilfields in the area, with a current production rate of 30,000 barrels per day, INA mentioned.
The Iraqi Oil Minister elaborated that the peak production under a contract concluded with the Chinese company, ABS, in 2018, is to reach a production rate of 40,000 barrels per day, but the ministry plans to increase it to more than 80,000 barrels per day, and the gas production to 50 million cubic meters.
Abdul-Ghani indicated that one of the most important goals of developing this oilfield is to supply power plants with enough quantities of fuel.
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed last February that Iraq is seeking to reach self-sufficiency in gas within three years.
“The reform in the oil sector is represented in the optimal investment of oil wealth, and Iraq’s entry into the global gas market is an option that we planned for and will be implemented,” Al-Sudani said during a ceremony held to sign to final contracts of licenses related to oilfields in February.
The Iraqi Ministry of Oil announced earlier that gas production will be increased during March, stressing that several projects are being implemented to reduce the associated gas burned in oil operations.