The Province of Nineveh [Ninawa], of which Mosul is the capital, will soon turn into a major oil producing region in Iraq, with output estimated at 200,000 barrels a day, an Iraqi oil official said.
According to the report from Azzaman, the official, who refused to be named, said the crude will mainly flow from two fields currently being developed by state-run firms: Najma and Qaiyara.
“We cannot underestimate a volume like this,” he added.
He urged the Oil Ministry to seriously consider establishing a special oil company to handle the province’s riches.
The official said the output would certainly increase if the authorities allowed foreign firms to explore and drill for oil in the province.
Mosul is known to be among Iraq’s oldest oil producing areas but much of the provincial territory remains unexplored.
The field of Ain Zala is Iraq’s oldest oil-producing field, but the machinery and equipment have not changed since production started there more than 70 years ago.
The official said foreign investment in the province’s natural resources “will reduce currently high unemployment rates” and bring economic prosperity to Mosul, one of Iraq’s most unstable cities.