Iraq to increase profits twice within three years
Azerbaijan, Baku, Oct.11 / Trend, A.Taghiyeva /
Iraq's profits will increase twice within three subsequent years as a result of energy sector development in the country, Aswat Al-Iraq Agency quoted Iraqi Deputy Prime Minister Hussain al-Shahristani as saying.
He said oil sector's share in increasing the country's profits will hit 80 percent of total profits by 2015.
Al-Shahristani also said Iraq intends to increase oil production up to 5-6 million barrels per day by 2015, and oil production volume will hit 9-10 million barrels per day by 2020, stressing that now oil production in Iraq is 3.4 million barrels per day.
According to BP, Iraq's proven oil reserves amounted to 143.1 billion barrels as of late 2011.
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.