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Oil reserves said to be plentiful even in Iraq’s Karbala
By Mohammed Dhaher
Azzaman, June 28, 2011
It seems there is no spot in Iraq without its own oil reserves.
Certain areas which were thought to be almost barren are emerging as potential reserve lakes of black gold.
One of them is the religious city of Karbala, which for years has earned its livelihood from agriculture and tourism.
But not anymore.
The head of the Karbala Provincial Council Mohammed al-Mawsawi says foreign firms have discovered substantial oil reserves in his province.
Initial reports, he claims, say Karbala’s oil fields, if developed, can produce 150,000 barrels of crude oil a day.
“This (oil output) will contribute to the development of the province through the petro-dollar project,” said Mawsawi.
Mawsawi was referring to an Iraqi project under which oil-producing provinces are entitled to one dollar from every single barrel of oil they produce.
The main beneficiaries have so far been the major producing provinces, namely Basra and Kirkuk.
Revenues from oil, even if they are one dollar per barrel, are very tempting. Mawsawi has allocated nearly 50% of his province’s budget to the digging and development of oil wells.
He says he hopes he could persuade Prime Minister Noori al-Maliki to earmark additional allocations for his province, since the central government will be the major earner of any oil his province produces.
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By Mohammed Dhaher
Azzaman, June 28, 2011
It seems there is no spot in Iraq without its own oil reserves.
Certain areas which were thought to be almost barren are emerging as potential reserve lakes of black gold.
One of them is the religious city of Karbala, which for years has earned its livelihood from agriculture and tourism.
But not anymore.
The head of the Karbala Provincial Council Mohammed al-Mawsawi says foreign firms have discovered substantial oil reserves in his province.
Initial reports, he claims, say Karbala’s oil fields, if developed, can produce 150,000 barrels of crude oil a day.
“This (oil output) will contribute to the development of the province through the petro-dollar project,” said Mawsawi.
Mawsawi was referring to an Iraqi project under which oil-producing provinces are entitled to one dollar from every single barrel of oil they produce.
The main beneficiaries have so far been the major producing provinces, namely Basra and Kirkuk.
Revenues from oil, even if they are one dollar per barrel, are very tempting. Mawsawi has allocated nearly 50% of his province’s budget to the digging and development of oil wells.
He says he hopes he could persuade Prime Minister Noori al-Maliki to earmark additional allocations for his province, since the central government will be the major earner of any oil his province produces.
[You must be registered and logged in to see this link.]
