President Abdul Latif Jamal Rashid said on Saturday that the Iraqi Ministry of Oil has increased crude production to 4.7 million barrels over the past 10 years.
“It has become clear that the world needs the stability of the energy sector and confidence in this stability, just as it needs the energy itself,” Racheid said in a speech during the 7th Summit of Heads of State and Government of the Forum of Gas Exporting Countries – Algeria.
He added that “global efforts are still focused on balancing energy security with reducing emissions, and energy shortages are no less harmful than the effects of warming on human beings, there are nearly a billion people in the world who lack access to energy sources.”
Rashid also pointed out that “despite all the challenges, the Ministry of Oil in Iraq has doubled its production to (4.7) million barrels during the past ten years, with Iraq alone occupying its contribution in one fifth of the global increase in production.”
He added, “We have launched the projects complementary to the fifth round and the projects of the sixth round, which are mostly promising gas fields,” stressing the approval of the Council of Ministers of the recommendations to establish the liquefied gas platform in the large port of Faw, which is the first of its kind in the country in order to enhance energy security and diversify its sources.
The President of the Republic continued, “We are also making deliberate steps to exploit gas, and before the end of 2023 a gas project was operated,” noting that “this year the ministry is currently making great efforts to launch more than one gas project in multiple regions of Iraq.”
