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Iraq to Export Oil From New Terminal
Iraq plans to start shipping crude from the first of its three new offshore export terminals in the Persian Gulf at the start of February, a move that will boost its export capacity by 900,000 barrels per day, oil officials said.
Increasing export capacity is a cornerstone of Iraq‘s ambitious plans to revive its oil industry after years of war, economic sanctions and neglect, and jump into the top ranks of global producers and exporters, Reuters reported.
Iraqi officials had expected to open the tap at the first of three new single-point moorings (SPMs) on Jan. 1 but testing of new export pipelines has not been completed.
Consultation between the Oil Ministry, the South Oil Company and project manager Foster Wheeler last week produced the new schedule, officials said.
“The final work of checking the new export pipelines and other export facilities linked to the first floating terminal is expected to be finished by the end of this month,” Oil Ministry spokesman Asim Jihad said.
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Iraq plans to start shipping crude from the first of its three new offshore export terminals in the Persian Gulf at the start of February, a move that will boost its export capacity by 900,000 barrels per day, oil officials said.
Increasing export capacity is a cornerstone of Iraq‘s ambitious plans to revive its oil industry after years of war, economic sanctions and neglect, and jump into the top ranks of global producers and exporters, Reuters reported.
Iraqi officials had expected to open the tap at the first of three new single-point moorings (SPMs) on Jan. 1 but testing of new export pipelines has not been completed.
Consultation between the Oil Ministry, the South Oil Company and project manager Foster Wheeler last week produced the new schedule, officials said.
“The final work of checking the new export pipelines and other export facilities linked to the first floating terminal is expected to be finished by the end of this month,” Oil Ministry spokesman Asim Jihad said.
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