President of the Republic: Iraq's oil production increased twofold to 4.7 million barrels in the past decade

Shafaq News/ The President of the Republic of Iraq Abdul Latif Jamal Rashid, announced, on Saturday, that Iraq's crude production increased to 4.7 million barrels in the past 10 years.

In his speech at the seventh summit of the Gas Exporting Countries Forum (GECF) in Algeria, Rashid said that "the world needs both energy and stability and confidence in the energy sector.”

He added that "the global efforts aim to balance energy security and emissions reduction, and that energy shortage is as harmful as global warming for human beings, as about a billion people in the world have no access to energy sources.”

Rashid also said that "the Ministry of Oil in Iraq overcame all the challenges and doubled its production to 4.7 million barrels in the past 10 years, making Iraq the sole contributor of one-fifth of the global production increase.”

He continued by saying "We launched the complementary projects for the fifth and sixth rounds, mostly promising gas fields", and confirmed the cabinet's approval of the recommendations to establish a liquefied gas platform in the port of Al-Faw, the first of its kind in the country, to enhance energy security and diversify its sources.

Rashid said, "We are also taking studied steps to exploit the gas, and a gas project was operated before the end of 2023", and noted that "this year, the ministry is making great efforts to launch more than one gas project in various areas of Iraq.”

Notably, President of the Republic of Iraq Abdul Latif Jamal Rashid arrived in Algeria on Friday, March 1, 2024, to attend the seventh summit of the Gas Exporting Countries Forum (GECF), which is scheduled to be held in Algiers from February 29 to March 2, 2024