Al-Ghadhban: the Ministry of Oil implements its production plans for the development of the Iraqi economy

Al-Ghadhban: the Ministry of Oil implements its production plans for the development of the Iraqi economy

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Under the proper policy pursued by the Iraqi Ministry of Oil, distinguished by its clear objectives, it is working on the implementation of an integrated oil reform program that serves the Iraqi people.
That the Ministry of Oil today under the direction of its Minister and Deputy Prime Minister for Energy Thamir Abbas Ghadhban, which emphasizes the keenness of the Ministry to proceed with the implementation of production, plans by national effort, and it is ready to start this process.
Al-Ghadhban, an oil expert with solid experience in the field for more than 40 years, confirms that the ministry is taking deliberate scientific steps to face the difficult economic and financial challenges facing the country, promoting the real development of its economy and planning to increase the financial revenues of national companies.
The plans are designed to raise production capacity for next year from crude oil to 5 million barrels per day and export capacity to four million, which are unprecedented in the history of the oil industry.
Two contracts were signed, the first to drill 40 oil wells in the field between the Basra Oil Company and Schlumberger company , and the second signing the contract for the implementation of seismic survey of three dimensions and two dimensions of the field between Basra Petroleum Company and oil exploration company.
Al-Ghadhban said that among the important plans is the development of the Majnoon oil field, which is considered one of the giant fields in Iraq, as it has great potential for production. The current production capacity is more than 240,000 barrels per day. The signing of the contracts comes to improve production rates in the field based on the national effort, after Shell withdrew from the implementation of its obligations to develop the field, explaining that “the drilling of 40 wells will maximize production rates in the field, which in turn will provide additional financial revenue to the state treasury.”
And that the three-dimensional method, which works in the implementation of seismic surveys of the field of Majnoon by the oil exploration company will provide accurate information to the Basra Oil Company, and will be able to promote the production rate in the field and increase production capacities, and extract oil with the best technology and modern technology with a purely national effort.
For his part, the director general of oil exploration company Nashwan Mohammed Nuri pointed out , that the contract signed with the Basra Petroleum Company is one of the large contracts executed by the company with its national capabilities, and the surveys will be carried out in a three-dimensions and two dimensions, to be able to obtain accurate information to clarify the structural image of the field, and the period of implementation of the contract 19 months, stressing that the availability of field , technical and laboratory capabilities of the company has enabled it to implement many contracts with licensing companies in Iraq.
In the same context, Al-Ghadhban stressed the support of the government’s directives to develop the energy sector to upgrade the services provided to citizens and to cooperate with the Ministry of Electricity in preparing the preparations and plans for the next year 2019 in a workshop attended by the Minister of Electricity and the United Nations representative in Iraq and a number of experts and officials of international companies and those who are concerned with energy issues and a number of agents and general managers in the ministries of oil and electricity.
The necessary needs were discussed to improve the energy sector, provide the necessary support and overcome the difficulties and problems, to reach the available energies, and to increase the rates of electricity production during the year 2019 and the projects of maintenance, rehabilitation and development of production units in the generation plants.
Al-Ghadhban affirmed that the government gave priority to the electricity sector in providing the required financial allocations, and the keenness of the Ministry of Oil to secure the needs of the power plants of fuel in order to increase the hours of processing citizens with electric power. He stressed the need to combine all efforts of the concerned parties to develop the energy sector in Iraq according to scientific programs and plans using modern technology and contributing to meet the country’s energy needs.
For his part, the Ministry of Electricity, under the direction of Minister Luay Al-Khatib, sought to sign a number of contracts with international companies, which aims to add new energies to enhance their power generation capabilities and stability. He praised the cooperation and coordination with the Ministry of Oil in providing the needs of power plants.
In conclusion, the Ministry of Oil is working with every effort to provide services to the Iraqi citizen, as it launches fuel card No. 3 to supply citizens in Baghdad with white oil.
The ministry confirmed that it started to supply families with the white oil according to the fuel card number 3 by 50 liters, and stopped working with the fuel card number 10, which the company had launched earlier by 100 liters per family.

Shatha Khalil *
Researcher in Economic Unit
Rawabet Center for Research and Strategic Studies