Kurdistan Oil ~ about to announce the increase in the size of the reserve ...

15/10/2011

Oil were about to announce the increase in the size of the reserve

Confirmed the presence of a surplus in production outside the energy system of export

Basra Saad al-Samak

detect and Oil Minister Dr. Abdul Karim and coffee for the next few days will witness the announcement of the size of the increase in oil reserves, after the completion of the review of documents, accounts and consolidated with the Kurdistan region, with said access to the production of some three million barrels per day until this month.

He and coffee in a statement singled out the "morning": that the authorities in charge to study and document the size of the increase reserve had completed its work and is waiting to be received from statistics on oil reserves in the Kurdistan region to officially announce the size of state reserves of crude.

He noted that the government of Kurdistan are talking about the existence of reserves estimated at 30 billion barrels of crude oil in the region, and that the ministry asked the province by providing them with technical details and documents to confirm this figure.

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The minister revealed that there is a surplus in crude oil production is estimated four million barrels per month can not be exported because of the determinants of technical export capacity, expected to be launched the first phase of system exports the Marine up export capacity to one million barrels a day, it is hoped to accomplish the end of this year.

He said the Oil Ministry set up last year the foundation stone for the project system of export of marine Card 2.9 million barrels day, and include the establishment of reservoirs in several warehouses in the Zubair 1 and 2, FAO, the package of crude pipelines are linked to the system the new addition to the D three pipeline length of 60 km in the depth of Iraqi territorial waters, noting that it comes within the plan to raise energy export outlets of the three main to ten million barrels a day.

He added that export capacity of the ports of Basra will be five million barrels per day within the plan, as will energy exports through pipelines transport crude from Basra to the Syrian port of Banias three million barrels a day, along with rehabilitation of pipeline transportation to the Turkish port of Ceyhan for up to three million barrels a day.

He noted that the capacity to export up to this month amounted to 2.9 million barrels per day.

On the other hand, the ministry signed, on Thursday, investment contract Akkas gas with Kocaz Korean, in a ceremony held in Baghdad in the presence of Korean Ambassador Park Suk and a number of officials in the Ministry of Oil and the Korean company.

The dimensions of the field that is located in the province of Anbar, which includes six wells, 50 km long and 18 km wide, and includes a stock expected estimated 5.6 trillion cubic feet as standard.

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