More than two billion barrels of oil reserves have been discovered east of Baghdad, the Iraqi company “Central Oil Company” announced in a press release.
Last August, Iraq signed 13 contracts with companies to develop oil and gas fields, part of the country’s efforts to increase oil production. According to Iraqi Oil Minister Hayan Abdel-Ghani, these contracts should add around 750,000 barrels of oil per day.
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A highly productive flow of medium and light oil has been obtained in the field, said the company’s managing director, Mohammed Yassin Hassan, who expects it to add more than two billion barrels to the country’s oil reserves .
Initial tests of the well showed a daily production rate of up to 5,000 barrels of crude oil, he added, noting that Iraq ranks fifth in the world in terms of proven oil reserves.
-In Iraq, Chinese companies dominate oil exploration contracts thanks to the Chinese company “ZEBC”, which obtained the contracts to exploit the fields in eastern Baghdad and the middle Euphrates, and the Chinese company Zhenhua which won the operating contract in the provinces of Najaf and Anbar.
With MAP
