Azerbaijan, Baku, May 22 / Trend, A.Taghiyeva /
Iraq intends to increase oil production in the country up to 3.4 million barrels of oil per day by late 2012 as part of the five-year programme to increase hydrocarbon production in the country, Iraqi Oil Ministry's representative Asym Jihad told Trend on Tuesday.
"We also plan to increase oil production up to 4.5 million barrels per day by late 2013," Jihad said.
He said the Iraqi Oil Ministry is working on the construction of an oil pipeline linking the country's south with the north to a length of 600 kilometres. About 200 kilometres of the oil pipeline has already been built and is expected to be ready by late 2012, he said.
According to Jihad, Iraq will increase its export capacity and reduce dependence on the Strait of Hormuz.
In April, Iraq increased its oil exports up to 2.508 million barrels per day which is the highest figure since 1989, Jihad told Trend earlier.
According to BP, Iraq's proven oil reserves as of early 2011 amounted to 115 billion barrels.
The country ranks third in OPEC after Saudi Arabia and Iran.
The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in the south of the country. About 80 per cent of oil extracted in Iraq, is exported.