Iraq announces important decision in oil production

2019/1/11 20:12


Iraq plans to increase production from the Majnoon oilfield in the south of the country to 290,000 barrels per day by the end of 2019 and to 450,000 barrels per day by the end of 2021 from the current level of 240, Basra Petroleum General Manager Ihsan Abdul Jabbar said. Thousand barrels a day.
Iraq's oil exports from the south of the countrywere just under 3.6 million bpd since the start of January, after hitting a record high of 3.63 million bpd in December, Abdul Jabbar said in an interview late on Friday.
Hyundai Engineering is leading the contestants to win a tender to build a vital water injection project in southern Iraq's oilfields aimed at increasing production capacity for OPEC's second largest oil producer, he said.
Abdul-Jabbar said that Iraq plans to operate a new pipeline for the export of oil capacity of 700 thousand barrels per day by the end of 2019.
He also said that Iraq has approved an investment budget of about $ 7 billion for the year 2019 to develop five giant oil fields in the Basra region.