Saturday, March 19th 2011 6:20 PM
Baghdad, March 19 (AKnews) - The Iraqi Oil Ministry said Saturday that it plans to implement storage projects that accommodate four million barrels of crude oil.
Assem Jihad, the spokesman of the Oil Ministry told AKnews that the oil ministry is working to develop the export system through setting up 13 tanks, the capacity of each reach to 300,000 barrels in addition to setting up four floating platforms across the sea that the capacity of each one of them reaches to 900,000 barrels.
"The oil ministry in cooperation with international oil companies sets for the first time in three decades an export system for the crude oil in the country."
"The oil ministry will reduce the time needed for developing the export and storage systems from four years to one year to improve Iraq's oil production over the coming years."
Iraq has since the early eighties of the last century a wide export system of crude oil with a capacity of 6.6 million barrels per day, including a double tube through Turkish territory to the Turkish port of Ceyhan at a capacity of more than 1.6 million barrels.
The system suffered from damage and neglect due to the long years of war and siege, which had a negative impact on energy exports.
Giant international companies in the energy field has won contracts through the two rounds of licenses to develop 10 discovered oil fields.
Although the Iraqi government predicted that the production of its crude oil will reach to about 12 million barrels per day over the next five years, but experts doubted this saying that seven million barrels a day is a reasonable number.
Reported by Jaafar al-Wannan
RN\GS AKnews
http://www.aknews.com/en/aknews/2/226234/
Baghdad, March 19 (AKnews) - The Iraqi Oil Ministry said Saturday that it plans to implement storage projects that accommodate four million barrels of crude oil.
Assem Jihad, the spokesman of the Oil Ministry told AKnews that the oil ministry is working to develop the export system through setting up 13 tanks, the capacity of each reach to 300,000 barrels in addition to setting up four floating platforms across the sea that the capacity of each one of them reaches to 900,000 barrels."The oil ministry in cooperation with international oil companies sets for the first time in three decades an export system for the crude oil in the country."
"The oil ministry will reduce the time needed for developing the export and storage systems from four years to one year to improve Iraq's oil production over the coming years."
Iraq has since the early eighties of the last century a wide export system of crude oil with a capacity of 6.6 million barrels per day, including a double tube through Turkish territory to the Turkish port of Ceyhan at a capacity of more than 1.6 million barrels.
The system suffered from damage and neglect due to the long years of war and siege, which had a negative impact on energy exports.
Giant international companies in the energy field has won contracts through the two rounds of licenses to develop 10 discovered oil fields.
Although the Iraqi government predicted that the production of its crude oil will reach to about 12 million barrels per day over the next five years, but experts doubted this saying that seven million barrels a day is a reasonable number.
Reported by Jaafar al-Wannan
RN\GS AKnews
http://www.aknews.com/en/aknews/2/226234/
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