For the first time in Iraq's South Oil achieve a historic increase in production and oil expert confirms: OPEC country's production identified

Author: SKM
Editor: BS, NF 08.04.2013, 13:56 Number of readings: 484



Range Press / Basra
Announced that the South Oil Company, on Sunday, an increase in oil production in the Rumaila field for the first time in the history of Iraq amounted to 1.39 million barrels per day, expected to continue to increase production to the end of the current year, as attributed oil expert increase to seek investment companies to achieve greater profits , emphasized that "OPEC set Iraq's oil production."

The official said the media company Firat Saleh said in an interview to (range Press), "The Southern Oil announces increase oil production in the Rumaila field to reach 1.39 million," after they had a million and sixty-six thousand barrels per day, and expected "continued increase in production in the second half of This year 2013. "

Saleh promised that "this increase is a quantum leap in the production of oil for the first time in the history of the country, at a time when we expect to continue to increase production to the end of the year as planned in oil production strategy for the oil fields in Basra."

For his part, an oil expert attributed the higher production ceiling to pursue foreign companies investing in the oil fields to achieve greater profits, according to the agreement between them and the Iraqi government in decades licensing rounds. "

The expert said the oil economy Jabbar Hilfi said in an interview to (range Press), "The companies invested in the oil fields of Iraq is seeking to make a profit while increasing production by decades licensing rounds between them and the Iraqi government," adding that "the increase you get two dollars from every barrel Whenever oil production grows. "

He stressed Hilfi the need for "a clear strategy and the Iraqi government uses oil and optimization of him with the increase in production to reduce the waste of gas associated with oil", criticizing the "lack of strategy in the petroleum industry, as well as the lack of factories exploit the gas associated with oil, which wasted a day nearly 800 thousand Mqmq in the process of burning gas. "

Hilfi pointed out that "oil production capacity possible increase but the capacity you need a large storage capacity, especially since Iraq is doomed oil production no more than three to four million barrels a day, according to OPEC decisions at the present time."

It is noteworthy that five foreign companies working with an investment of oil in the fields of Rumaila, West Qurna and Zubair through contracts licensing rounds, signed by the companies with the Iraqi government to increase the oil production and most of these companies are Shell, Petrh Petroleum (pb), British Petrojayna Chinese, Russian Lukoil.

And the Southern Oil Company was founded in 1969, and is the biggest oil companies in Iraq in terms of production and export, as the production of the vast majority of Iraqi oil and holds exported abroad freely across platforms from the ports of Basra.

It owns the South Oil Company, as the largest companies southern part of Iraq's considerable influence because of the job opportunities offered to the children of the southern regions, and raised from time to time criticized the company's policy to grant grades.

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