SHAHRISTANI: POSSESS 10% OF THE WORLD RESERVES, AND OUR PLAN TO REACH NINE MILLION BARRELS PER DAY
Baghdad – and babysit – Deputy Prime Minister for Energy Hussain al-Shahristani, the oil reserves in Iraq, accounting for 10% of the total world reserves, as has gas reserves of 120 trillion cubic feet, pointing out that Iraq plan production aims to reach 9 million barrels per day by the year 2020, while likely get a surplus for export by 2018, with the needs of gas demand for some of the neighboring countries, and export part of the liquid natural gas to the world market.
Shahristani said in a statement issued after his participation in the activities of the Arab Economic Forum Japanese third, which was held in the Japanese capital of Tokyo (16 to 17 December 2013), accompanied by the Minister of Commerce and a number of heads and representatives of Iraqi companies, and received a public copy of it, on Wednesday, said that ” Iraq plans of the priorities of the future to be achieved in the short term by the year 2015 is to increase the production and export of oil and meet the needs of the demand for electric power and the elimination of gas burning, support and encourage some important industries, including petrochemicals. ”
Shahristani said that “oil and gas production is the main engine for Iraq’s economic strategy and will remain in control of all sectors of the economy.”
He continued that “the proven oil reserves in Iraq has 143 billion barrels, which represents about 10% of the total world reserves, as has gas reserves of 120 trillion cubic feet, is expected to be much higher than the amount of the reserve ratio.”
He pointed out that “many of the areas that have not been discovered so far, including the geology of the 400 sites are expected to add 250 billion barrels of oil and 200 trillioncubic feet of natural gas.”
He pointed out that “our plan aims to reach production capacity to 9 million barrels a day by 2020, and that includes half of the discovered oil fields only,” stressing that “the rest of the fields will be developed as needed for the global market.”
He guessed Shahristani “get a surplus for export by 2018, and will cater to the needs of Iraq’s demand for gas to some neighboring countries, will also be part of the export of liquefied natural gas to the world market” … p / i