Baghdad – Iraq’s crude oil production capacity stands at 5.5 million barrels per day, but actual output remains at approximately four million barrels per day, according to Iraqi Oil Minister Hayan Abdul-Ghani.
Speaking at the Iraqi-British Businessmen Forum in Baghdad on Monday, Abdul-Ghani highlighted ongoing efforts by the Ministry of Oil to enhance the country’s energy sector, particularly in gas production and refining capacity.
The minister detailed several key projects aimed at utilizing Iraq’s gas resources more effectively.
One of the largest initiatives is a project by French energy giant TotalEnergies, which is set to produce 600 million cubic feet of gas per day in the southern province of Basra.
Additionally, Baker Hughes is developing a project to extract 200 million cubic feet of gas daily from fields in Dhi Qar province, also in southern Iraq.
Abdul-Ghani also pointed to gas utilization projects in the Halfaya and Mansouriya fields, which are part of Iraq’s fifth licensing round for energy projects.
Moreover, gas production operations have recently commenced at the Akkas gas field in Anbar province, located in western Iraq.
These initiatives form part of the government’s broader strategy to boost domestic gas supply, reduce reliance on imports, and meet the country’s growing energy needs.
Iraq, a key member of the Organization of the Petroleum Exporting Countries (OPEC), has been working to expand its gas production capacity to meet domestic consumption demands, particularly for electricity generation.
The country heavily depends on gas imports to operate power plants, making the development of indigenous gas fields a strategic priority.
Abdul-Ghani emphasized that the Ministry of Oil is also pursuing major initiatives to expand refining capacity to meet domestic fuel needs.
He stated that significant progress is being made to upgrade refining infrastructure, while new projects to increase Iraq’s export capabilities for both oil and gas are underway.
Iraq’s energy sector has long been central to its economy, contributing the majority of the country’s revenues. However, despite vast oil and gas reserves, Iraq has faced challenges in fully utilizing its natural gas resources.
Much of the associated gas extracted during oil production is flared due to a lack of processing facilities. The projects currently underway aim to curb gas flaring, enhance energy efficiency, and support sustainable economic development.
The Iraqi-British Businessmen Forum provided an opportunity for officials and business leaders to discuss potential collaborations and investment opportunities in the energy sector.
As Iraq seeks to modernize its oil and gas industry, foreign investments and technology partnerships are expected to play a crucial role in optimizing production and refining capabilities.
Abdul-Ghani reiterated the government’s commitment to supporting investors and streamlining the business environment to accelerate energy projects.
With the expansion of gas production and refining capacity, Iraq aims to strengthen its energy security, create job opportunities, and bolster economic growth in the coming years.
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