Basra: Basra Oil Company has revealed its current production and export statistics, alongside a strategic government plan aimed at increasing output and attracting top international firms.

According to National Iraqi News Agency, Bassim Abdul Karim Al-Shamkhani, Director General of Basra Oil Company, stated that the company’s production, in collaboration with operating companies and based on OPEC data and Ministry of Oil statistics, approximates 3 million barrels per day. This figure includes contributions from the Maysan, Dhi Qar, and Middle Oil fields, which serve both domestic consumption and export needs.

Al-Shamkhani highlighted that current exports cap at 3.25 million barrels per day, while domestic consumption fluctuates between 600,000 and 750,000 barrels daily. He emphasized that the company is executing a structured export plan, currently focusing on the development of the third offshore pipeline. This new pipeline, with a capacity exceeding 2 million barrels per day, is expected to elevate total export capacity to approximately 3.5 million barrels. Al-Shamkhani projected the potential to surpass 5 million barrels within the next two years.

Furthermore, Al-Shamkhani disclosed ongoing discussions for the construction of a fourth and fifth pipeline. These initiatives aim to either bolster or replace the aging infrastructure, thereby significantly improving Basra’s overall export capability. He also mentioned a targeted plan to boost production, especially in licensing round fields and southern oilfields.

He concluded by stating that the Ministry of Oil has crafted a comprehensive strategy to attract esteemed international companies, such as ExxonMobil, under the framework of licensing round contracts and conditions.