Iraq daily oil production likely to hit 5 million barrels by 2017’s end

Iraq’s oil output is expected to reach five million barrels per day by end-2017 (Reuters)

Baghdad ( Iraq’s Oil Minister Jabar Ali al-Luaibi expected the country’s oil output to reach five million barrels per day, and associated gas production to hit 1.3 billion standard cubic feet by the end of 2017.

Al-Luaibi told semi-official Alsabaah newspaper that the Oil Ministry will be able to achieve its goal of producing five million barrels of crude oil per day by the end of this year, stressing that the ministry’s plans “will not be affected by any fluctuations”.

“South Gas Company will be able to invest the associated gas as production is likely to reach 1.3 billion standard cubic feet by the end of 2017,” al-Luaibi added, noting that the ministry is currently exporting 1,000 tons of liquid gas and 16,000 barrels of gas condensates to global market.

Last week, al-Luaibi signed a contract with Baker Hughes, a General Electric company, for a fast track flare gas solution for the al-Nassiriya and al-Gharraf Oilfields, south of Baghdad.

Under the contract, Baker Hughes will develop advanced solutions for flare gas at the al-Nassiriya and al-Gharraf oilfields, using modular gas processing technology developed in United States. The project is expected to be executed in two phases.

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