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FinancialNews


  • 25-04-19

    Iraq to explore oil, gas in desert within 4 years

    (MENAFN) Iraq's Oil Ministry is targeting the commencement of oil and gas exploration by 2025 in western Iraq deserts.

    Oil Minister Thamir al-Ghadhban explained that "the plans of the ministry in the next four years are aimed at conducting extensive explorations in the western desert because of its promising and huge reserves of oil and gas."

    According to the minister, "the Iraqi oil industry is witnessing its golden age because of the expansion of explorations and developments of the oil and gas fields in the country."

    Al-Ghadhban affirmed that "Iraq has witnessed in recent years many (energy) explorations, which proved the presence of oil and gas in large quantities, which led to an increase in oil reserves."

    He further added that Iraq is looking to achieve hikes in its gas reserves as the country enjoys development in its building capacity in the petrochemical industries and power production.

    MENAFN2504201900450000ID1098437097

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