Iraq plans to boost oil output to 6m bpd: oil min.

SHUNEH, Jordan, May 18 (MNA) – Iraqi Oil Minister Hussein al-Shahristani has said his country plans to raise its oil output to 6 million barrels per day.

Talking to the Mehr News Agency on the sidelines of the World Economic Forum on the Middle East, Shahristani said, “We have plans in hand to develop the existing oilfields and explore new ones in a bid to enhance the daily production to 6 million barrels from the current 2.4 million barrels.”

 

“For the time being, 12 oilfields are in operation in the country. We are going to develop 50 more oilfields,” he noted.

 

An export terminal is being established in the city of Basra through which we will increase oil exports, he added.

 

Tehran and Baghdad have agreed to build an oil pipeline connecting the main Iraqi oil hub of Basra to the oil-rich Iranian city of Abadan, Press TV reported on April 23. Iran plans to import up to 200,000 barrels of oil per day from Iraq to feed the Abadan Refinery in the southwestern province of Khuzestan.

 

Iraq holds the world’s third-largest oil reserves; however, six years of conflict following the U.S. invasion has battered the country’s oil industry, negatively affecting its production ability.

 

NK/MG/MRK

END

MNA

News Code 33837

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