Iraqi Oil Minister Ihsan Abdul-Jabbar said that his country plans to increase its oil production capacity to 8 million barrels of oil per day by 2029, compared to current production of 4.8 million barrels per day, APA-Economics reports citing Arab News.
He said that production capacity could reach 12 million barrels of oil per day.
However he added that current plans do not conflict with the OPEC + agreement to reduce production to maintain the stability of oil markets.
The oil minister said that the gradual increase in production would take place through the country’s existing major oil fields, including the Majnoon, Zubair and Rumaila fields — which together have the ability to double their production.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on Facebook
Follow us on Twitter
