Iraq intends to increase daily oil export by 1.7 times

Oil&Gas Materials 9 September 2013 19:32 (UTC +04:00)

Azerbaijan, Baku, Sept. 9 /Trend, A. Taghiyeva/

Iraq intends to increase oil exports by up to 4.5 million barrels per day in 2013, Iraqi Oil Ministry spokesman Asym Jihad told Trend on Monday.

According to him, such an increase will be possible after starting to use a new well at Majnoon field.

"The start of production at the new well of Majnoon field is planned for mid-October. Some 175,000 barrels of oil per day will be produced at the beginning phase at this well," the ministry's spokesman said.

By 2016, it will be possible to produce some 850,000 barrels of oil per day at this well, Asym Jihad said.

In August 2013, Iraq increased oil exports to 79.8 million barrels, compared to 78 million barrels in July, exporting a daily average of 2.57 million barrels of oil.

In August 2013 the average oil production in Iraq was 3.4 million barrels per day, compared to 3.2 million barrels in July.

Jihad previously told Trend that Iraq increased explored oil reserves in country by 10 billion barrels thanks to the international tenders, conducted for exploration and development of new hydrocarbon fields.

According to him, as a result of the explorations it was established that the proven oil reserves in Iraq amounted to 150 billion barrels.

The main oil fields in Iraq are located in country's south. These fields are: Rumaila, Zubair, Nahr Umr, Majnoon field and West Qurna. Some 80 percent of oil produced in Iraq is exported.