Baghdad:The Ministry of Oil has announced its ongoing efforts to develop oil fields and hasten exploration and production activities in Iraq.
According to Iraqi News Agency, the ministry is acting on directives from Minister of Oil Basim Khudair Al-Abbadi. Deputy Minister for Extraction Affairs Nasir Aziz Jabbar stated that the ministry aims to enhance crude oil production capacities, with a plan to double these capacities over the coming years by advancing oil field development and accelerating exploration and production operations.
Deputy Minister Jabbar, during a meeting with directors of the ministry’s departments, national oil companies, and international representatives from the Fifth and Sixth Licensing Rounds, emphasized that achieving production targets beyond 10 million barrels per day requires focused efforts and establishing a clear vision with integrated implementation strategies.
He highlighted the necessity of identifying challenges, developing practical solutions, and preparing plans with s
pecific timelines to boost Iraq’s production capabilities and its standing in the global oil market. The Deputy Minister underscored the importance of launching new rounds to develop exploration blocks and oil and gas fields as a cornerstone for increasing reserves and future production capacities.
Jabbar stressed the need for enhanced cooperation between national and international companies to benefit from the expertise within the Iraqi oil sector. He directed that essential facilities and requirements for companies be provided to ensure their investment programs are executed within the designated timelines, with ongoing support and oversight from the Minister of Oil to overcome obstacles and expedite program implementation.
He commended the progress made by companies in exploration activities, including evaluating seismic survey data and drilling exploration and appraisal wells, which have led to new discoveries, their commercial announcements, and the development of oil and gas resources, thereby boostin
g Iraq’s future reserves and production capacities.