Adding 25 billion barrels of oil to the national reserve

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Adding 25 billion barrels of oil to the national reserve

The Oil Investigation Organization in the Service of Oil added a hold assessed at 25 billion barrels of oil to public creation.

“This addition will support the Iraqi economy and the Ministry of Oil’s plans for development and production operations, indicating the existence of an integrated five-year plan for seismic survey operations and the exploratory drilling project, which is part of the government program,” the company’s general manager, Osama Raouf Hussein, told the official newspaper.

“The company will drill and implement three exploratory wells during the current year, noting that there are ongoing negotiations to sign contracts for two- and three-dimensional seismic surveys, through contracts with international companies that were selected in the supplement to the fifth complementary and sixth licensing rounds,” Hussein continued. “The company will drill and implement three exploratory wells.”