Oil reveals a project to extract oil and gas on Iraq's borders with 4 countries

  • 10-11-2022, 21:21
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    The Oil Exploration Company of the Ministry of Oil revealed 3 projects, including a strategic project to increase Iraq's reserves of oil and gas, which it is hoped will be implemented on the borders with 4 countries.

    The director of the company, Ali Jassim Hammoud, told the Iraqi News Agency (INA), that "the company has a strategic project represented by exploratory drilling, which will contribute to increasing oil reserves, compensating the depleted, and confirming the presence of hydrocarbons in various oil fields."

    He stressed that "exploratory drilling operations will contribute significantly to increasing oil and gas reserves, and will include various border fields with Iran, Kuwait, Syria and Saudi Arabia."

    He added, "The exploratory drilling project collides with sufficient financial allocations for its implementation, especially in the common border fields," noting that "the annual allocations and budgets allocated to the company are no different from those of extractive companies and need to be increased because the lack of allocations constitutes an obstacle to the implementation of projects."

    Regarding future projects, he pointed out, "There are two projects with the French company Total to develop the Artawi field, in the process of preliminary discussions, in addition to the existence of cooperation with the Chinese company Sinotech after signing an agreement with it during the last period, to conduct surveys from the land part in the Gulf area. Arabi".