Baghdad: Prime Minister Ali Faleh al-Zaidi affirmed on Tuesday that Iraq’s oil production should be commensurate with its reserves, oil capacity, and population. He also directed efforts to fully invest in associated gas, contributing to meeting local energy needs, reducing waste, and ultimately eliminating the need for imports.

According to Iraqi News Agency, the Prime Minister’s Media Office stated in a statement that “Prime Minister Ali Falih Al-Zaidi chaired a meeting of senior staff at the Ministry of Oil, in the presence of the Ministers of Finance and Oil, and a number of advisors, to discuss the strategic plan for developing and increasing oil production in Iraq for the period 2027-2030.”

The Prime Minister reviewed the details of the plan, which he had previously directed to be prepared, including its various tracks and programmes aimed at developing the oil sector, increasing production capacity, and enhancing Iraq’s export capacity.

Prime Minister Al-Zaidi affirmed that Iraq’s oil production should match the size of its oil reserves, its oil capabilities, and its population, enabling the country to meet the needs of its citizens and development requirements. He stressed the need to develop and upgrade infrastructure and export capacity in line with the anticipated increase in production.

The Prime Minister directed that efforts be made to fully utilize associated gas to help meet domestic energy needs, reduce waste, and ultimately eliminate the need to import gas.

Furthermore, he directed that production from oil fields in the Kurdistan Region of Iraq be increased and that exploration activities and exploration blocks be expanded to achieve the plan’s targets and raise oil production to approximately 10 million barrels per day by 2030.

The Prime Minister also instructed the Ministry of Oil to prepare for an expanded conference to which major international oil companies will be invited. This is aimed at attracting global investment, expertise, and technologies and contracting with these companies to implement exploration, production, development, and export projects. This move is expected to strengthen Iraq’s position in the global energy market and bolster its resources and economic capabilities.