Oil Minister Adel Abdul-Mahdi, Sunday, that Iraq’s oil reserves would make him leading the country to the countries of the world for centuries to come, pointing to the country’s need to increase production and oil exports during the next phase.
Said Abdul-Mahdi, in an article published in the local citizen, said that “some delusional thought that the money has been spent in research and development and increase production and drilling more wells in the areas of oil and gas, is the effort is misplaced, because of the difficult economic conditions and the fight against” Daash. ”
He added that “in spite of the collapse of oil prices, which led to the financial crisis, but Iraq is not the country’s poor, and it should adopt a rational policy, and has already trimmed the budget, and omit the billions of dollars of expenses, either unnecessary or that can be deferred, and are increasingly thinking about the revitalization of the economy Ahli and private, which may open new horizons towards reform process and the seriousness of operations. ”
He said Abdul-Mahdi, in his article, “everyone knows the extent of the Iraqi economy’s dependence on oil, now and for the duration of an adversary, Oil will remain a key factor to provide the necessary funds, through an increase in production and exports, to be able to complete the infrastructure vital broadcast in other real sectors .. as well as to maximize the its position in the international markets. ”
The oil minister stressed that “Iraq is able to do the job investor basic fact we know it and know Investors, which is the magnitude of its assets or the enormous stocks that provide a guarantee for any serious investment in the country,” adding that “the reports confirm that our stock oil original is 516.772 billion barrels record, The reserves of the original record 181.4 billion barrels, and the remaining reserve up to 01.01.2015 is a record 142.4 billion barrels, and the gas reserves and associated residual heat up
01.01.2015 is 130.966 trillion cubic feet, of which 32.695 trillion feet of free gas, and 98.271 trillion cubic feet of associated gas, all without the expense of Kurdistan fields and explorations showed recently. ”
He explained that “these quantities large oil makes Iraq oil countries topping for centuries to come, it has these precautions, he must think hard about how to invest for the benefit of the country and future generations, which made Iraq, nevertheless all conditions experienced or suffered Mnha- attractive to investors as We have seen and are seeing now