Page added on April 17, 2009
Iraq needs foreign companies to invest in drilling more oil wells as it does not have the capacity on its own to more than double national output of 2.3-2.4 million barrels per day of crude, the oil minister said.
Oil Minister Hussain al-Shahristani said Iraq has 70 new oil wells ready to start pumping crude in the next two months but lacks the infrastructure and resources to add much more than another 100 in its southern fields without foreign investment.
Guardian
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