Iraq’s Dhi Qar Oil Company brings three new wells online in the Nassiriya field

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Iraq's Dhi Qar Oil Company brings three new wells online in the Nassiriya field

The head of the Dhi Qar Oil Company’s operations directorate said on Sunday that three more oil wells would be placed into service in the Nassiriya oil field following the completion of the required pipeline and tie-in work.

In a statement, Adi Jumaa, the company’s Deputy Director of Equipment Maintenance, listed the wells’ numbers as 53, 23, and 57.

“The aim of putting those wells into service is to increase the oil field’s production capacity, which will contribute to strengthening the national economy,” he stated.

The Nassiriya field was found in 1973, and it started operating experimentally with a 10,000 barrel per day capacity in June 2009. In 2018, the field’s output reached 90,000 barrels per day.

The economy of Iraq is recognized as a rentier-consumer economy, mostly dependent on oil earnings, which also serve as the primary funding source for the national treasury.

One of the biggest oil fields in Iraq is the Nassiriya field. Situated in the southern Iraqi province of Dhi Qar, it possesses a confirmed oil resource of 4.5 billion barrels. The Dhi Qar Oil Company is in charge of running the field.

In the southern Iraqi province of Dhi Qar, there is a state-owned oil corporation called Dhi Qar Oil corporation. The firm was founded in 2008 and is in charge of the governorate’s oil and gas resource development, production, and exploration.