Russian offers to explore oil in Anbar

by **claud39** Mon Nov 26, 2018 7:13 am

http://economy-news.net/content.php?id=14495

Russian offers to explore oil in Anbar

11/26/2018

Economy News Baghdad:

Government sources revealed that Asian companies, including Russia, have offered to explore and invest in the western region of Iraq with oil and gas sites, following the remarkable security improvement and the decline of the capabilities of the Daash organization in Anbar. This comes at a time when the Iraqi Oil Ministry announced that the country's crude oil reserves exceeded 153 billion barrels .

The sources, who declined to be named, said in an interview with the newspaper "New Arab" London, the offers include investment in the field of crutches, gas in western Iraq within the province of Anbar, and conduct other exploration in Western Sahara .

On the other hand, said the Undersecretary of the Iraqi Ministry of Oil for extraction, Fayad Nima, that "the Iraqi oil exploration company is continuing to increase exploration, through its teams or in cooperation with foreign companies," asserting that "the reserves of crude oil in his country exceeded 153 billion barrels " .

He added that "the work of the oil exploration company currently, distinct, and uses the latest scientific and technological technologies to add new reserves, and that Iraq opens the doors for partnerships with neighboring countries to get quick results in the exploration in the common border areas .

He added that "our plan for the coming years in the oil field will be focused on the exploration effort in the promising areas, to obtain crude oil and gas in eastern and western Iraq, to meet the requirements of electricity production ."

For his part, said Iraqi oil expert Ahmed Jubouri, "The current production of Iraq up to 5 million barrels per day, exports an average of 3 million and 600 thousand barrels, and the rest is used to meet domestic demand ."

Jubouri said that Iraq's ambition to reach 10 million barrels per day is currently illogical, at least depending on supply and demand in the global market. He stressed that 71% of the reserve is in the southern fields, especially in Basra, and 20% in the northern fields, especially Kirkuk, and the remaining nine percent are in the middle in the field east of Baghdad .

According to the oil expert, "There is also a huge stockpile of 33.486 billion barrels, can not be extracted currently, and these reserves do not include the Kurdistan region in the north of the country, and up to three or four fields in the region ."

He stressed that most of the oil reserves are in the fields of West Qurna and Zubair, in the province of Basra, noting that West Qurna became the largest oil fields in terms of proven reserves, the size of 43 billion barrels, the second largest field in the world, In cooperation with international oil companies . "

As part of government efforts to increase oil revenues, Iraq resumed exports of Kirkuk oil after it stopped more than a year ago, amid a dispute between Baghdad and the Kurdistan region, according to Iraqi Oil Ministry spokesman Asim Jihad .

The volume of inflows resumed last Friday is between 50 and 100 thousand barrels per day, compared to peak levels of 300 thousand barrels per day during some months in 2017 .