Ministry of Oil: Planning to increase oil production to more than six million barrels per day by 2029
The Iraqi Ministry of Oil announced ambitious plans on Sunday to increase oil production to more than 6 million barrels per day by 2029, citing an agreement with BP to develop four oil fields in Kirkuk. Undersecretary of the Ministry of Oil, Bassem Mohammed Khudair, stated that the ministry is working to increase oil and gas production capacity within a clear five-year plan, aiming to reach this figure between 2028 and 2029.
Khader added that the ministry seeks to achieve these goals through various projects in all governorates, leveraging the exploratory activities undertaken by the Oil Exploration Company, in addition to the drilling and production operations taking place in the fields under the six licensing rounds.
Among the most prominent current projects highlighted by Khadir was the integrated gas development project in the south, in the Artawi field, along with other projects, most notably the development of four important oil fields in Kirkuk. An agreement has been reached on this matter, and the final contract with BP is scheduled to be signed in the coming days.
The Undersecretary also emphasized that national extraction companies are now responsible for 70% of operational activities in the oil sector.
Burathanews.com