Enhancing oil exports from southern Iraq by 350 thousand barrels per day

0
30
Enhancing oil exports from southern Iraq by 350 thousand barrels per day

Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani announced on Tuesday an increase in southern oil exports and refining capacities.

A statement from the Ministry stated, “During the Seventh Ambassadors’ Conference, the Deputy Prime Minister for Energy Affairs affirmed the government and the Ministry’s commitment to advance the oil industry by increasing oil and gas production, supporting oil and gas field development projects, and enhancing export capabilities. Foreign Minister Fuad Hussein and Iraqi representatives and ambassadors from various countries attended the conference.”

During a recent interview, he highlighted the government’s commitment to investing in associated and free gas to support the energy sector. He emphasized the need to announce the fifth (supplement) and sixth licensing rounds to help oil and gas field development projects and enhance national production.

During his speech, he emphasized the significance of the Integrated South Project contracts with Total Energy. He stated that these contracts are a valuable contribution to the oil and gas sector, as well as to the development of infrastructure and renewable energy. The speaker also highlighted the importance of supporting projects that boost export capacities from the southern port.

He explained that they could increase the rate of oil exports from the southern fields by adding 350 thousand barrels per day. This was achieved through the rehabilitation of the Al-Amaya port in the south, which added 500 thousand barrels as export capacity. Additionally, there was an increase in refining capacities.

During the meeting, he mentioned that they have activated the contract for installing a new single buoy to increase the export capacity from the southern port by 900,000 barrels. He also explained that this will result in an increase in oil revenues, which will support the financial budget.