The Chairman of the National Oil Company Ihsan Abdul-Jabbar Ismail has laid the foundation stone for the crude oil processing plant in the exploration Block 9 within Al Fayha oil field in Basra  at a capacity of 100,000 barrels per day (bbl/d), Iraq’s Oil Ministry announced.

Ismail highlighted that Al-Fayha oil field development project is an important project for the production of light oil. Besides oil production, the company aims to produce 135 million standard cubic feet (mmscf) of natural gas to support the operation of electric power plants.

The chairman elaborated that the ministry is keen on implementing such projects to develop exploration blocks seeking to increase oil production rates. He noted also that the company and the ministry are planning to increase production in the coming years to increase the financial revenues to the Federal Treasury and thus raise the level of services provided to the people.

The President of the National Oil Company pointed to the importance of developing clean energy projects and alternative sources to fossil energy that reduce the use of fossil fuels and thus reduce expenditures, noting that the world is heading towards clean energy without decline.

From his side, Khaled Hamza, General Manager of Basra Oil Company affirmed that the oil produced from the exploration Block 9 is one of the best types of oil globally, adding that we have promising future plans to develop the reservoirs of the field.