Oil Minister: An agreement is expected to increase oil exports

Oil field
 
09/24/2020

Economy News - Baghdad

Oil Minister Ihsan Abdul-Jabbar revealed an expected agreement with OPEC and OPEC + group to increase Iraqi oil exports, noting that the reduction agreement between OPEC countries will continue until the end of 2021.

Abdul-Jabbar said in a statement reported by the official Al-Sabah newspaper and seen by Al-Iqtisad News, that "the rise in crude oil prices and the repercussions of the Corona pandemic on the world will cast a shadow over the future of future decisions by members of the organization," indicating that "negotiations are continuing, and there is openness." With everyone, the decisions that contribute to the recovery of global oil prices will mature. "

Concerning the joint fields with Iran and Kuwait, Abdul-Jabbar confirmed, "The existence of a consulting company that works on developing plans and factors for joint operation of fields between Iraq and Kuwait. As for the fields shared with Iran, there are dialogues with the Iranian side to agree on final and stable formulas for operating these fields, and the ministry is working on Developing the capabilities of its companies in Basra and Maysan with the aim of expediting the process of investing in joint fields. "

He explained that "his ministry is working to complete these projects until 2025, and we will raise gas production to large quantities from 2500 to 3000 million cubic feet of gas."

He pointed out that "all gas projects are either currently under implementation or under assignment or in preparation for the project."

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