Report

rss

Iraq News

Kurdistan

Economy

World

All News

Iraq inaugurates a run trial in Makman al-Yamama in Basra

Category: Economy

Date: 2021-05-27T18:18:35+0000
Iraq inaugurates a run trial in Makman al-Yamama in Basra

Shafaq News/ The Iraqi Minister of Oil, Ihsan Abdul-Jabbar, attended the trial run of Makman al-Yamama oil refinery ceremonial in the western al-Qurna/2 oilfield in Basra.

The operational capacity in the run trial commenced today, Thursday, will be initially by 10 thousand barrels a day before raising it to 350 thousand barrels a day.

Minister Abdul-Jabbar appraised the event, deeming it as a huge success in light of the economic and health challenges imposed by the spread of COVID-19.

"This addition in Makman al-Yamama aims will be annexed to the production volume of Makman Mashraf estimated at 450 thousand barrels a day. The total production volume of the western al-Qurna/2 oilfield will rise to 800 thousand barrels a day."

"Iraq aims to enhance its [production] capacity of the light and heavy crudes. It is a vital resource in the interest of the national economy. What has been achieved today is a technical, financial, environmental, and health challenges that we overcame."

Abdul-Jabbar commended the relations with Lukoil and the "long-term special relation" with the Russian company.

For his part, the managing director of Lukoil Mid-east limited, Egor Zubarev, expressed content with the trial run of Makman al-Yamama, ascribing it as a crucial developmental project in the western al-Qurna/2 oilfield and eulogizing the "huge cooperation with the Iraqi national effort to achieve mutual goals."

The Deputy Minister for Extraction Affairs, Karim Hattab, silver-lined "the mutual efforts of Basra oil and Lukoil that resulted in raising the production capacity of the oilfield, especially Makman Mashraf to 400 thousand barrels a day after it was only 130 thousand barrels a day.

The Director-General of Basra oil, Khaled Hamza, said, "the western al-Qurna oilfield in southern Iraq is one of the biggest oilfields worldwide with recoverable preliminary reserves of 12.9 barrel oil equivalent and a contractual area of 300 square kilometers.

The Ministry's spokesperson, Asem Jihad, said, "it is a pivotal step to enhance the national production of the good light crudes that yields higher profits compared to other crudes

related

Iraq ranks first as the largest importer from Iran

Date: 2020-09-12 10:16:34
Iraq ranks first as the largest importer from Iran

Authorities register significant decline in the number of passengers using Iraqi railways

Date: 2021-06-02 06:56:56
Authorities register significant decline in the number of passengers using Iraqi railways

Carnegie Endowment for International Peace expects a financial collapse in Iraq in 2021

Date: 2020-11-11 06:43:44
Carnegie Endowment for International Peace expects a financial collapse in Iraq in 2021

U.S. downsized crude imports from Iraq last week, EIA says

Date: 2021-09-12 07:37:07
U.S. downsized crude imports from Iraq last week, EIA says

Basra dates harvest suffices Iraq this year, official says

Date: 2021-08-08 15:27:53
Basra dates harvest suffices Iraq this year, official says

The dollar exchange rates in Iraq

Date: 2020-07-27 07:31:32
The dollar exchange rates in Iraq

Political turmoil hampered the economic metamorphosis of Iraq, PM's advisor says

Date: 2021-03-02 12:04:44
Political turmoil hampered the economic metamorphosis of Iraq, PM's advisor says

Border Crossings register 500 bn dinars' one month after the army took control

Date: 2020-08-17 15:38:55
Border Crossings register 500 bn dinars' one month after the army took control