Luaibi expects oil production to reach 5 million barrels per day by the end of 2017


Oil Minister Jabbar al-Allaibi expected on Sunday to reach the threshold of production of five million barrels of crude oil per day by the end of this year 2017 and invest one billion and 300 MMSCF of gas associated with the end of this year.
Al-Allaibi said in a statement that the ministry will be able to achieve its goal of producing five million barrels of crude oil per day by the end of this year, “noting that” the plans of the ministry will not be affected by any fluctuations, regardless of nature and source.
He added that the South Gas Company will be able to invest the burning gas to reach the production of one billion and 300 million MMSCF by the end of this year, noting that “the ministry is currently exporting a thousand tons of liquid gas and 16 thousand barrels of gas condensates for the global market, .
The Minister of Oil, “a project to eliminate the burning of natural gas associated with the production of crude oil by the end of 2019, which means the production of more than 2 billion MMSCF of natural gas to contribute to increase the country’s financial resources and investment in sustainable development by producing clean energy, and the ministry has reached the stage of preparation And referral to investment for the project of transporting oil from Basra towards the Jordanian port of Aqaba. “

Leave A Reply