Oil Minister: Iraq's exports will reach 3.75 million b / d in 2015

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Iraqi Oil Minister
Reply with Iraq further milestones on the way back a major force in the field of oil production target reach the size of exports to six million barrels per day by 2017 and stressing that pumping more than its neighbor and partner within OPEC Iran.

Sign and Oil Minister Abdul Karim and coffee to arrive in Iraq's oil exports to 2.9 million barrels per day in 2013, then to 3.5 million barrels per day in 2014, up in 2015 to 3.75 million barrels per day.

The coffee in remarks to reporters that investment in Iraq over the past two and a half last year to develop oil fields won by companies in three rounds amounted to about $ 15 billion, a strong number but it still does not live up to the aspirations of the government.

The current production of 3.2 million barrels per day, the highest level in three decades and exports 2.6 million barrels per day on average since the beginning of the month.

The Iraq aspires to promote energy production with the help of foreign companies to more than 12 million barrels a day by 2017, but proved to be realistic this goal because of infrastructure problems.

It is expected to target the country's eight million to 8.5 million barrels a day, but some oil analysts and company officials say that even access to six million barrels per day by 2017 will be an elusive goal for the war-weary country.

The increase in the supply of Iraqi crude to make up for the shortage in the market and that the Iranian curb prices at a time when Iranian exports to Western sanctions.

Iraq seeks who is recovering from decades of war and devastating sanctions to promote its oil supply. The country exported most of its production of crude oil from southern ports on the Gulf.

And exceeded Iraq, which has ambitious plans to double oil production over the next three years the level of three million barrels per day for the first time in three decades to bypass Iran and become the second largest oil producer in OPEC after Saudi Arabia.

Falah al-Amiri said Iraq's permanent representative to OPEC and Director Iraqi Oil Marketing Company (SOMO), told reporters on the sidelines of an oil conference in Baghdad, said the current production of 3.2 million barrels per day and that his country than Iran because of the recent deterioration of the production.

Iraq's exports rose to 2.565 million barrels per day on average in August, registered their highest level in three decades.

Iraq has the fourth largest oil reserves in the world.

PUKmedia Reuters 09:33:27 09/16/2012


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