Baghdad: The Ministry of Oil revealed that Iraq’s oil production is expected to touch 7 million barrels per day within the next five years. The announcement was made during a dialogue session at the Iraq Energy Conference, where it was also confirmed that new refining projects in the Basra and North refineries have been completed. These projects boast a total capacity of up to 220 thousand barrels per day, aimed at enhancing self-sufficiency in oil derivatives.
According to National Iraqi News Agency, Ali Maaraj, the Undersecretary of the Ministry of Oil, emphasized the ministry’s commitment to increasing production capacity and addressing associated gas flaring. The initiatives are part of broader plans to eliminate gas flaring and cease the importation of oil derivatives in the near future. The ministry is also undertaking integrated projects in oil extraction, refining, and petrochemical industries, as well as in electricity generation and transformation industries such as fertilizers.
Maaraj highlighted significant projects such as the Basra Integrated Project and the Total Project, along with developments in Nasiriyah and Qayyarah. He also noted the ministry’s progress in resuming licensing rounds that had been stalled for years, including the fifth and sixth rounds, along with the development of the Artawi oil field. These efforts encompass oil extraction, gas processing, seawater desalination, and energy generation via solar stations.
In terms of environmental sustainability, the Undersecretary mentioned substantial advancements in treating associated gas, with new processing units launched in Basra, Maysan, and Dhi Qar, capable of handling 600 million standard cubic feet. He stressed the ministry’s focus on reducing carbon emissions and enhancing product quality through clean and renewable energy projects, aligning with “Euro 5” and “Euro 4” standards.
Further, Maaraj noted that the Ministry of Oil supplies the Ministry of Electricity with various energy derivatives, including 10,000 liters of gas oil per day. Iraqi refineries are currently producing 30,000 cubic meters of gas oil, with some products being exported to bolster the state budget. The Undersecretary concluded by affirming the country’s self-sufficiency in white oil and the production capabilities of national refineries to meet local demands for various oil products.