Energy Conference in Dubai estimated the country's oil reserves at 300 billion barrels

27/03/2013 (00:01 pm) - The number of readings: 43 - Issue (2759)



Baghdad / term Press

Suggested to the Commission on oil and energy parliamentary reach reserves of Iraq's oil to 300 billion barrels, more than double the figure previously announced, but reduced the considerable optimism Maliki's advisers access to rate oil production 4.5 million barrels per day by the year 2014 next, while drawing the latter in last leg that Exxon Mobil will find opportunities in the next oil licensing round in Iraq.

In the meantime, the Commission invited international companies to submit bids to build and install and operate an Iraqi oil export pipeline length of 1000 km starts from Anbar province and ends in the Jordanian port of Aqaba.

The Chairman of the Commission on oil and energy parliamentary, Adnan al-Janabi, conference development of energy projects of Iraq, which was held in Dubai yesterday that "Iraq will not be able to achieve its target to reach production of an average of 4.5 million barrels oil per day, during the year 2014 next," likely "Edit targeted production rates through next April. "

Janabi, in the conference, which quoted by the agency Bloom Berg economic, and seen by (long-Presse). The "bureaucratic hurdles and the lack of legislation is one of the factors that will prevent enable Iraq to achieve that goal."

The Chairman of the Commission on oil and energy parliamentary, according to the agency, "the draft law of oil and gas is still stuck due to political disputes can not be passed soon."
In a related context likely Janabi "up Iraq's oil reserves estimates to 300 billion barrels," pointing out that "more than double the number of the advertiser is estimated at 143.1 billion barrels."

For his part, the head of the advisers in the Council of Ministers, Thamer Ghadban, during the conference itself, according to the Economic Agency, said that "Iraq's oil exports added product in the Kurdistan region will reach a rate of 2.9 million barrels per day during the current year 2013."

The angry, that "Exxon Mobil operating in the West Qurna -1 will have opportunities in the oil licensing round coming in Iraq," stressing that "Iraq is expected to put an end to the waste of associated gas that is flared now and that collecting and processing by the year 2015 next ".
Agency showed Bloom Berg economic, that "Iraq has the fifth-largest gas reserves in the Middle East based on the index BP Annual International Energy."

And Iraq had signed 25-year-standing agreement with Shell and Mitsubishi in November of last year 2011 for the development of domestic gas resources.

To Iraq has invited international companies to submit bids to build and install and operate an Iraqi oil export pipeline length of 1000 km starts from Iraq's western Anbar province and ends in the Jordanian port of Aqaba, select the month of April as the date for the commencement of the receipt of contracts from companies wishing.

The project includes the establishment of pipeline export capacity of up to one million barrels per day extends from the area of ​​modern western Iraq to the port of Aqaba, and the project will include also the pipeline gas facilities and will provide the fuel needed to run the pumping stations in the tube in addition to bridging the "some consumer needs in Jordan."

Iraq currently uses, pipeline and lonely for the export of crude oil from the Kirkuk fields in northern Iraq to Turkish ports, and a maximum tube capacity of 600 thousand barrels, but it does not work that due to the fluctuation of energy production, and the tube sometimes exposed to acts of sabotage.

He says Iyad Capac, Director supervising the project from a company (SNC Lavalin) engineering works as a consultant with the Oil Ministry on the project that "The oil ministry plans to launch a deal supply the project for the period from July to December, and will be financial coverage for the project according to the deal from January 2014 to June. "

Capac added that "reimbursement of expenses for executing companies will be divided into two sections payment by stock and payment by the product of the company," noting that "the intergovernmental agreement will be signed in this regard between the Iraqi Oil Ministry and the Ministry of energy and mineral resources of Jordan."

Has not been completed to calculate the total cost of the project yet, but estimated to be several billion. "


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