Iraqi oil minister reveals plans to boost production to 8 million barrels by 2029

Iraqi oil minister reveals plans to boost production to 8 million barrels by 2029
  • Clock-gray 16:37
  • calendar-gray 29 March 2021

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.

Emil Ismayilov

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