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Iraq increases explored oil reserves

Oil&Gas Materials 11 April 2013 14:48 (UTC +04:00)
Iraq increased its explored oil reserves by 10 billion barrels thanks to international tenders organised in the country for the exploration and development of new hydrocarbon deposits,

Azerbaijan, Baku, April 11 / Trend A.Tagiyeva /

Iraq increased its explored oil reserves by 10 billion barrels thanks to international tenders organised in the country for the exploration and development of new hydrocarbon deposits, the official spokesman of the Ministry of Oil of Iraq Asym Jihad told Trend on Thursday.

"Based on the research, it was found that the proven oil reserves in Iraq constitute 150 billion barrels," Jihad said.

"This figure has been defined and in particular, after the recent discovery of new oil deposits in the country, especially the Al-Dima field," he added.

Jihad also noted that nowadays the daily oil production and export in Iraq constitutes 3.15 million barrels and 2.5 million barrels respectively.

According to the spokesman, Iraq is going to continue pursuing international tenders for oil and gas exploration in the country. Iraq is now preparing to issue a tender for exploration of gas fields at10 gas blocks.

The main oil fields in Iraq are in the south. They are Rumaila, Zubair, Nahr Umr, Majnun and West Qurna. At least 80 per cent of the oil produced in Iraq is exported.

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