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Font Size:06/04/2013 (00:01 pm) - The number of readings: 32 - Issue (2767)
Expectations of rising global demand for oil by 20 million barrels per day
Baghdad / term
Deputy Prime Minister predicted for Energy Hussain al-Shahristani said that rising global demand for crude oil in the near term by 20 million barrels per day, while confirming U.S. study, published that Iraq is a "few places" in the world that has remained its oil resources without the full investment.
Hussain al-Shahristani, told a news conference "is expected to increase demand for crude oil during the coming period by 20 million barrels per day," revealing that Iraq sought to "build a large industrial base for the production of phosphate fertilizers and nitrogen to keep the increase and development of oil production."
According to Shahristani, the global data indicate that "Iraq will be the country's president to meet the increasing need of crude oil over the next twenty years."
Iraq has promising plans for the development of oil fields as well as the exploration of further production up to about 8 million barrels per day by the year 2017.
The Oil Ministry said on Wednesday that the country's total production of oil amounted to 3.150 million bpd in March / March last year, while crude exports reached 2.417 million barrels per day, compared with 2.538 million barrels per day in the previous month.
According to the State Oil Marketing Organization, the Iraq exported 2.102 million b / d of oil port of Basra and 315 thousand b / d from the northern fields around Kirkuk, including 15 thousand barrels sent by truck to Jordan.
At the same time confirmed the U.S. study, published that Iraq is one of "the few places" in the world that has remained its oil resources without full investment, and pointed out that there only a limited number of oil fields that are subject to the development in Iraq, and is expected to be precautions Iraqi bigger than declared figure which amounts to (141) billion barrels, and stressed the need to establish and develop infrastructure owned by Iraq, and the need to refrain from "burning gas associated with oil."
The study prepared by the institution U.S. Energy Information Administration EIA)) Independent, "There is a limited number only from oil fields known being developed in Iraq," asserting that "Iraq is a few places in the world that much remains of its oil resources without investing in Full. "
The study revealed that "the planned increase of oil production in turn need to create infrastructure for gas pipes or tubes pumping water to maintain the sustainability of the program prepared to increase oil production," and warned that the gas associated with oil "is still burning."
She added, "The choice of water, the country is already suffering from water scarcity and needs pipeline to pump water from the sea through the facility pumping water in the process of oil production," The study estimates that "plans oil production need to pump from (10) to (15) million barrels per day from seawater, as the cost of this project more than (10) billion dollars. "
Says the American Enterprise that "last updated number declared reserve Iraqi oil installer is (141) billion barrels as of January (2013) after he was the previous record for the year (2011) up to (115) billion barrels," adding that "Iraq has five fields giant oil (reserves of more than 5 billion barrels) stationed in the south and which form (60%) of the country's oil reserves, and constitute reserves near Kirkuk, Mosul and Khanaqin limits (17%) of the total reserves. "
The study says that "electricity is also an important factor in plans to increase oil production consumes oil and gas installations of large amounts of electricity as the largest economic establishments in the country, although there are plans to reach production rate (20) megawatts of electricity by the year (2015) Van delay the achievement of this goal means impossibility to reach the targets set for the production rates in the oil sector.
The study suggests that "Iraq is planning to invest creates four oil refineries new in the country, which Nasiriyah refinery with a production capacity of up to (300,000) barrels per day, is worth investing in it up to (9) billion dollars, and refinery Kirkuk production capacity (150,000) barrels per day, The value of investing in it (5.5) billion dollars, and refinery Maysan production capacity (150,000) barrels and worth investing in it (5) billion dollars and refinery Karbala capacity (140.000) barrels per day, is worth investing in it (5) billion dollars. "
According to the study, "Iraq was the sixth-largest oil exporter in the world during the year (2012), where the majority of its oil exports were going to the United States and oil refineries in Asia, especially to India, China and South Korea," pointing out that "exports amounted for the year (2012), according to the company Lloyd's Shipping rate (2.4) million barrels per day. "
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