Prime Minister directs to raise crude oil production

Economy
  • 4-08-2024, 19:33
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    Baghdad-INA   
    Prime Minister Mohammed Shia al-Sudani directed, today, Sunday, to expand crude oil production operations, to increase the production of associated gas, through national efforts or to complete the production rates contracted with licensing round companies.
     
    The Prime Minister's media office said in a statement received by the Iraqi News Agency (INA): "The Prime Minister chaired the periodic meeting dedicated to following up on oil sector projects, in the presence of the Deputy Prime Minister and Minister of Oil, and a number of advisors and officials in the ministry and its affiliated companies."
     
    Al-Sudani received a briefing on recently inaugurated projects, which mark a significant advancement in enhancing Iraq's oil industry capabilities. The meeting included discussions on progress in export, distribution, and transportation projects, as well as updates on refining and integrated energy projects.
     
    The Prime Minister directed an expansion in crude oil production to increase the output of associated gas, either through national efforts or by completing production rates agreed upon with companies from licensing rounds. He also instructed the increase of production capacity at northern refineries to meet the energy needs of the electric power sector and the requirements of these refineries.
     
    The meeting also reviewed the current gas investment projects, noting that the utilization rate of associated gas has reached 69% of the gas produced across all Iraqi fields, representing a strategic achievement in a short period, with a 13% increase.