IRAQI DINAR EXPERTS OPINIONS 26-11-2013
26-11-2013 IDD Expert Terrence: Which is the biggest oil filed in Iraq?
26-11-2013 Iraqi Dinar Expert IDD Colin: A Rumaila field is the biggest oil field of Iraq. Rumaila oil fields were discovered in 1953 with the capacity of 1.3 million barrels per day. It has 17 billion barrels recoverable oil capacity. The second biggest oil field of Iraq is the Kirkuk oil fields with the capacity of .480 million barrels per day. The Kirkuk is under development and production will be enhanced in the near future.
26-11-2013 Iraqi Dinar Expert TD Edward: What about Al-Fakkah oil fields of Iraq?
26-11-2013 Dinar Deals Expert: The Jebal Al Fauqi or the Al Fakkah fields are located in the border area of Iraq and Iran. The area is considered to be one of the most disputed areas between Iraq and Iran. Therefore both of the countries share this oil field which has the total oil reserves of 2.5 billion barrels. Iraq produces 50,000 barrels from this field per day. This oil field is on bidding between Iraq and Iran.
26-11-2013 Iraqi Dinar ID Investor Eric: Which oil field is discovered most recently in Iraq?
26-11-2013 Dinar Deals Expert: The most recently discovered oil field in Iraq is the Atrush field which is discovered in Kurdistan region of Iraq. The oil field is discovered by General Exploration Partners in March 2013. The oil field is located in Dohuk which is the famous city of the Kurdistan region. The oil field is divided into different wells known as Atrush 1 well, Atrush 2 well, Atrush 3 well and Atrush future wells. Kurdistan regional government is receiving a 25 % share as a part of its contract.
26-11-2013 Iraqi Dinar DG Guru: What are the significant of these wells of Atrush oil field of Kurdistan?
26-11-2013 Iraqi Dinar Expert TD Edward: The Atrush oil 1 has a capacity of 6393 barrels oil per day. General Exploration Partners hold the 80% of the wells with the partnership of Aspect Energy International. However the Aspect Energy International sold its share to TAQA international. The Atrush 2 has the capacity of 42212 barrels per day which is the biggest production in the Kurdistan region. Atrush 3 is going to search till the end of the following month for a final report.
26-11-2013 IDD Expert Terrence: What about your opinion about AZ Zubair Fields known as one of the biggest oil field of the world?
26-11-2013 Dinar Deals Expert: Yes AZ Zubair is one of the largest oil fields of the world with the 4.5 billion barrels reserves. The per day production at AZ Zubair oil fields is 1.125 million barrels per day which is biggest in Iraq by any of the oil fields in the region. The government of Iraq has the contract with the Consortium Company for the production and development of oil fields.
26-11-2013 Iraqi Dinar ID Investor Eric: Which is the oldest oil field of Iraq?
26-11-2013 Iraqi Dinar Expert IDD Colin: Baba Gurgur is one of the oldest oil fields of the Iraq and hopefully the first one. It was also one of the biggest oil fields on the earth before the discovery of the Ghawar Field of Saudi Arabia. This oil field was discovered in 1927. Baba Gurgur is famous for its eternal fire and also add to the tourism industry of Iraq because who visit Iraq for tourism never misses this place.
26-11-2013 Iraqi Dinar Expert IDI Basil: Why East Baghdad Field have oil reserves more than any other oil field in Iraq?
26-11-2013 Iraqi Dinar DG Guru: No doubt that East Baghdad fields have oil reserves than any other oil field in Iraq but you must understand that East Baghdad is not a single oil field; it is the group of oil fields and consists of many oil fields. The East Baghdad fields have more than 8 billion barrels approved oil reserves. Per day production of oil is 400,000 barrels per day. The discovery of this oil field was made in 1976.
26-11-2013 Iraqi Dinar Expert TD Edward: What about Halfaya field of Iraq?
26-11-2013 Iraqi Dinar Expert IDI Basil: With the proven reserves of 4.1 billion barrels, the Halfaya field is located in Amarah Iraq. Per day production of oil is 300,000 barrels per day. The contract is signed with the China National Petroleum Corporation. The oil field is also in the development phase and the China National Petroleum Corporation is looking modern techniques to improve the production of oil.
26-11-2013 Iraqi Dinar ID Investor Eric: Which oil field was discovered by the Turkish Petroleum Company in Iraq?
26-11-2013 IDD Expert Terrence: Kirkuk oil fields are those oil fields which were discovered by the Turkish Oil Company in 1927. The oil fields are found near Kirkuk. The oil field has ten billion proven oil reserves. The production of the oil at the Kirkuk is one million barrels per day even after passing seven decades. According to some of the oil experts, the Kirkuk oil reserves has been badly affected by the poor management of the Saddam Administration.
26-11-2013 Iraqi Dinar DG Guru: What kind of mismanagement of Saddam administration about Kirkuk?
26-11-2013 Iraqi Dinar Expert IDD Colin: Due to the poor management by the Iraqi administration at the time period of Saddam, the Kirkuk oil fields became unproductive. The methods of production like fuel oil re-injection made it more expensive. This issue further created a major problem of gas striping and refinery residue and it is considered as a major mismanagement in the oil industry of the world.