Iraq plans to increase crude oil production capacity in the next two decades, according to Thamer Al-Ghadhban, Iraq’s Oil Minister, reported by Asharq Al-Awsat.
Al-Ghadhban clarified that the ministry’s strategy to achieve this goal is mainly based on achieving further technological, economic, and administrative transition. This is going to be done through proper work and planning to enhance the national content to keep pace with the great development in the global oil industry.
Iraq’s crude oil production is estimated at more than 4.45 million barrels per day (mmbbl/d). The ministry, however, plans to increase oil and gas production “to reach rates from 6 to 8 million barrels in the next two decades,” according to an official statement.
Iraq is looking forward to keeping pace with the great development in the global oil industry.