Iraq contribution expectations of 30-35% in global oil markets

by **Ponee** Wed Aug 17, 2016 11:48 am

Oil expert predicted the possibility that Iraq contribute to 30 to 35 percent of global crude oil export growth and natural gas over the next 25 years.

The expert forecast coincided with the commencement of the Ministry of oil giant projects in several provinces.

Said Hisham Gabri» morning»: the volume of investment opportunities in Iraq too, especially with large oil reserves.

He noted that «with international oil companies to Iraq after the oil production increase and the initiation of raw gas export steps and liquid, that Iraq will be a force to be reckoned with larger oil amid expectations that contributes between 30 to 35 percent of oil export growth during the next quarter century and may increase if all plans completed and mega projects».

Iraq seeks to be one of the most important exporters of gas to Europe, because it is one of the main countries where great and promising fields for the production of this material.

In turn, the Ministry's senior agent said Fayyad grace in previous statement» morning»: that Iraq owns future productive capacities backed by huge oil contracts to international companies licensing under fields, in addition to the Ministry's plans to invest in energy (hydrocarbons), masesid international Iraq's stature to meet future demand and promote sustainable economic growth, in order to compensate for the shortfall in supply to feed the market with future oil needs.

The oil Ministry was able to increase oil production to 4 million and 700, 000 barrels including product in Kirkuk governorate and Kurdistan, declaring that the daily export volume reached 3 million and 900 000 barrels in the achievement attained for the first time in the history of Iraq.

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