Iraq has signed initial deals for 13 oil and gas exploration blocks and fields, the country’s oil ministry said on Wednesday.
The agreements could increase output by 750,000 barrels of crude and 850 million standard cubic feet (mscf) of gas.
In a press statement, Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani stressed the ministry’s keenness and serious endeavor to maximize oil production and achieve optimal investment of gas through the development of oil and gas fields and exploration patches.
He added: “These contracts will add large quantities of oil production estimated at 750,000 barrels per day, in addition to investing 850 cubic feet per day of gas.”
These quantities and production capacities aim to achieve flexibility in supplying power generation stations with gas fuel, in addition to supporting the energy sector in Iraq.
The contracts will be sent to the Ministerial Energy Council for approval and final signature ahead of proceeding with the direct implementation of development operations, said Undersecretary for Extraction Affairs Bassem Mohammad Khudair.
