Azerbaijan, Baku, Jan. 7 / Trend A.Tagiyeva /
Iraq plans to increase initial oil exports for 2013 by 300,000 barrels per day, raising exports to 2.9 million barrels a day, official representative of the Ministry of Oil of Iraq, Asym Jihad informed Trend.
The country ultimately intends to increase oil production in 2013 to 3.7 million barrels per day. In 2014, Iraq's oil production will increase to four million barrels per day, Jihad said.
According to him, in 2013, Iraq plans to issue the fifth round of licenses to foreign companies for the exploration and development of potential oil and gas reserves.
Due to this tender, oil output in Iraq will reach five million barrels per day in the very near future.
According to BP, proven oil reserves in Iraq at the end of 2011 amounted to 143.1 billion barrels, which ranked the country 3rd in OPEC after Saudi Arabia and Iran. Oil production in Iraq at the end of 2011 was 2.798 million barrels per day.
In November 2013, 2.6 million barrels of oil per day were exported from Iraq.
The main oil fields in Iraq, Zubair, Nahr Umr, Majnoon and West Qurna, are located in the south. 80% of oil produced in Iraq is exported.
