Iraq plans to significantly boost oil production capacity

According to Al-Sharq Al-Awsat newspaper, Iraqi Oil Minister, Mr. Thamer Ghadban, estimated Iraq’s oil reserve at 115 billion barrels, which is the second largest in the world, after Saudi Arabia.

The minister also said that Iraq is planning to increase its oil production capacity to 6 million barrels per day in the next 5-6 years. He added that Iraq will soon expand the oil and gas excavation operations based on a comprehensive integrated plan.

Al Bawaba