Oil Minister announces an increase in the rate of exports from the southern fields

Baghdad-INA
Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani announced on Tuesday, an increase in the rate of oil exports from the southern fields, as well as in refining capacities.

A statement from the ministry, received by the Iraqi News Agency (INA), said: “The Deputy Prime Minister for Energy Affairs confirmed, during his hosting of the Seventh Ambassadors’ Conference, in the presence of Foreign Minister Fuad Hussein, the agents and Iraqi ambassadors in countries of the world, the keenness of the government and the ministry to advance the oil industry and work to increase oil production and gas, and the financial revenues achieved by supporting projects to develop oil and gas fields and increasing export capacities."

The statement added, "The government program emphasized the importance of investing in associated and free gas to enhance national production to support the energy sector," stressing the need to support oil and gas field development projects by announcing the fifth (supplement) and sixth licensing rounds."

It  pointed out, "The set of contracts for the Integrated South Project with Total Energy is an important addition to the oil and gas industry, infrastructure, and renewable energy," stressing support for projects to increase export capacities from the southern port."

The statement continued, "An increase in the rate of oil exports from the southern fields was achieved by adding an amount of 350,000 barrels per day," pointing to the rehabilitation of the Al-Amaya port in the south to add an amount of 500,000 barrels as export capacity, as well as achieving an increase in refining capacities."

It  pointed out, "activating the contract for the project to add a new single buoy with the aim of adding 900,000 barrels of new export capacity from the southern port," explaining, "an increase in oil revenues has been achieved in support of the financial budget."