Iraq plans to reach 5m bpd oil output capacity before year-end

Iraq will proceed in parallel with exploration plans to increase its oil reserves. — Reuters picIraq will proceed in parallel with exploration plans to increase its oil reserves. — Reuters picBAGHDAD, April 2 — Iraq plans to increase its capacity to 5 million barrels per day before the end of the year, Oil Minister Jabar al-Luaibi said today.

Iraq will proceed in parallel with exploration plans to increase its reserves by 15 billion barrels in 2018, to reach 178 billion barrels, Luaibi told an energy conference in Baghdad.

Among the plans to increase output capacity from existing fields is a sea water injection plan which is in process of being tendered, he said. — Reuters

Source: The Malay Mail Online







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