INA–Baghdad
The Ministry of Oil affirmed on Sunday its commitment to increasing production to approximately 4.3 million barrels per day and working to boost oil exports.
The Undersecretary for Extraction Affairs, Nasir Aziz, stated in a statement received by the Iraqi News Agency (INA) that “one of his top priorities at this stage is overseeing plans to rehabilitate and develop the southern oil fields, whose production declined to varying degrees due to the Gulf War crisis, in line with domestic needs and oil export requirements.”
“I have directed the management of oil companies to reassess the conditions of the fields, expedite production and pumping operations, and address technical and operational obstacles, with the aim of increasing oil exports through the southern ports and ensuring the continued supply of crude oil to national refineries,” he said.
The Undersecretary affirmed that initial plans aim to gradually restore national production to pre-crisis levels, estimated at between 4.2 and 4.3 million barrels per day, while also working to increase oil exports—particularly through the southern ports—to their previous levels of nearly 3.5 million barrels per day, depending on the readiness of the fields and facilities, as well as pumping, storage, and export plans.
“The Ministry is relying on national efforts, in cooperation with international contracting companies, to restore production capacities that declined during the crisis and to gradually increase production over an appropriate period until the targeted levels are reached, despite the significant technical and logistical challenges facing the sector,” Aziz added.
“Among the priorities of the extraction sector are monitoring production at the North Oil Company and enhancing oil transportation operations from the southern fields, which will contribute to supporting oil exports through the Turkish port of Ceyhan and diversifying export outlets in line with the ministry's plans for sustainable production and maximizing national revenues, in addition to overseeing production operations in the central oil fields,” he stated.
“The extraction sector will pay special attention to exploration blocks and oil and gas fields and work to develop them in a manner that strengthens national reserves and increases production capacity. This also includes supporting associated and non-associated gas investment projects, given their strategic importance in securing the needs of the energy and industrial sectors and reducing reliance on imports,” he added.
Aziz emphasized his commitment to strengthening relations with oil companies operating in Iraq and providing an appropriate environment to support their activities.
He also stressed the importance of encouraging reputable investment companies to participate in developing the oil industry, in line with the ministry's plans to improve operational efficiency and expand investment opportunities in the extraction sector.