menareport.com (Middle East): Iraq plans to raise oil output to 6 million bpd: “The Iraqi oil ministry discusses with Shell financing the construction of oil refinery in Baghdad to meet the current demand for oil products.” (ShellNews.net) Posted 21 March 05

The deputy of the Iraqi oil minister, Ahmad al-Shama, expects that Iraqi oil production will rise to 3 million barrels per day at the end of the current year, clarifying that the current production is approximately 2.1 million barrels daily, reported the Kuwaiti newspaper, Al-Watan on Sunday.  

Al-Shama added that the ultimate goal is to increase production into 6 million bpd, as the ministry held contacts with international oil companies for submitting their bids regarding proposed exploration areas. The ministry prepared plans for developing oil rights to 4 million bpd, before achieving the target of 6 million bpd.

Al-Shama added that among the projects the ministry accomplishes are three projects for the production of 300,000 bpd, while the investments of foreign oil companies will add 2-2.5 million bpd, increasing production capacity into 3.5-4 million bpd. The Iraqi oil ministry discusses with Shell financing the construction of oil refinery in Baghdad to meet the current demand for oil products.

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