Oil Minister Confirms 12m bpd Target

(Source: Aswat Al Iraq)

The Iraqi oil ministry seeks an increase in production to hit 12 million barrels per day (bpd) during the next six years, in addition to developing natural gas fields, according to the minister, Hussein al-Shahrestani.

This figure is the normal rate of Iraq’s production but for the policies pursued by the former regime,” Shahrestani said in statements to reporters during a visit to the province of Karbala.

The ministry has laid a strategy and detailed plans to reach this figure. The two rounds of oil tenders with the international corporations are part of these plans,” he added.

Shahrestani pointed out that the ministry also seeks the development of its natural gas fields to reach global levels. “This is what the ministry will be working on during the third round of tenders”.

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