Iraq intends to enhance its production and export capabilities of crude oil during the next phase, by implementing development projects in the main fields located in the south of the country, as part of a vision that aims to reach production rates to about 6 million barrels per day by the coming years.
The Iraqi Ministry of Oil, in cooperation with foreign investing companies, is working to accelerate development processes and modernize the infrastructure of ports and sea export outlets in Basra, as well as expanding water injection operations in the fields to ensure sustainability of pressure and raise the efficiency of extraction.
These detailed steps come in parallel with Baghdad’s commitment to the policies of the “OPEC Plus” alliance and the established production quotas, as the oil authorities seek to increase the available production capacity to meet the increasing domestic demand, and enhance the negotiating and export capabilities of the Iraqi economic file.
