The fifth supplementary and sixth licensing rounds will include 12 governorates, including investment opportunities

Baghdad-INA
Oil Minister Hayan Abdul Ghani expressed on Saturday, his hope to announce that Iraq's oil reserves will rise to more than 160 billion barrels.
 
 
Abdul Ghani said in his speech during the activities of the launching ceremony of the fifth and sixth licensing rounds, under the patronage and presence of Prime Minister Mohammed Shia Al-Sudani, and attended by a reporter of the Iraqi News Agency (INA): "The ministry is offering today 29 promising projects within the fifth and sixth complementary licensing rounds, to start a new phase towards the advancement of the industry and oil and gas wealth after the experience of five licensing rounds that started in 2008."
 
He added, "The Ministry of Oil achieved, through licensing rounds, the referral of 27 contracts for oil and gas blocks and fields to international companies, which had a significant impact on production levels and government financial revenues by adding more than 2 million barrels per day of crude oil to national production."

He pointed out that "the fifth complementary and sixth licensing rounds will include 12 governorates that include investment opportunities, in addition to the maritime areas in the Arabian Gulf these projects will contribute to the economic expansion and growth of the governorates in terms of providing job opportunities and gradually stimulating economic activity in the surrounding areas, which in turn will lead to increased stability employing the workforce and making the most of gas reserves to meet the growing needs for gas in electric power generation and other industries.”

Abdul Ghani stressed "providing support, support and possible facilities to the winning companies in developing oil and gas fields," pointing to "success in the refinery sector by adding more than 360 thousand bPd to national production."
 
He expressed his hope to "announce that Iraqi oil reserves will rise to more than 160 billion barrels in the future."