Azerbaijan, Baku, Oct.1 / Trend, A.Taghiyeva /
Iraq plans to invest $ 500 billion in the energy sector by 2030, Al Jazeera TV channel reports with reference to Iraqi Deputy Prime Minister for Energy Hussain Saleh al-Shahristani as saying on Monday.
After investments in this sector, the country intends to increase revenues from hydrocarbon exports up to $6 trillion. About $80 billion of the total investments will be invested by the private sector.
Al-Shahristani also said Iraq plans to increase its power generation up to 30 gig watts in the next 10 years.
According to BP, Iraq's proven oil reserves amounted to 143.1 billion barrels as of late 2011.
The country ranks third in OPEC after Saudi Arabia and Iran.BP reported that oil production in Iraq amounted to 2.798 million barrels per day in late 2011.
The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in the south of the country. About 80 per cent of oil extracted in Iraq, is exported.