Iraq Unveils Bold Oil Plans for Growth in 2024
Iraq’s Minister of Oil, Hayan Abdul-Ghani, recently spilled the beans for the country’s five-year plan to enhance oil production. During a meeting with senior officials of oil operators, Abdul-Ghani said that the government is working towards increasing the daily production rate of six million barrels. He further informed that the ministry is trying to speed up the projects related to oil production, extraction, flared gas utilization, renewable energy, and infrastructure.
The minister informed the meeting that the Iraqi Drilling Company (IDC) had successfully finished the drilling and reclamation of 199 oil wells in 2023 with great efforts.
The company’s technical and engineering staff completed the drilling of 67 oil wells, in addition to the restoration of 132 oil wells, during the past year 2023 in the Iraqi oil fields in the cities of the north, center, and south,” said Abbas in the meeting.
Abdul-Ghani remarked, “We have achieved a significant increase in production, and we plan to reach self-sufficiency to stop imports.”.
“We have achieved a significant increase in production, and we plan to reach self-sufficiency to stop imports,” Abdul-Ghani said.
“Several promising projects that achieve our goals will be completed in the coming period,” he added.
