Iraqi Oil Minister Hayan Abdul-Ghani announced today, Friday, the addition of ten billion barrels of oil to his country’s crude oil reserves and eight trillion cubic feet to its gas reserves.
The Iraqi minister’s announcement came on the sidelines of his inauguration of a new project and the laying of the foundation stone for another within the Majnoon oil field in the southern province of Basra. A ministry statement quoted Abdul-Ghani as saying that the analysis of the oil data indicated that the mentioned quantities of oil and gas were added to the proven reserves after the agreement concluded by the Majnoon field management with the Iraqi Oil Exploration Company to conduct a three-dimensional seismic survey of the sites of (Al-Hartha), (Zubair) and (supervisor).
During the visit, the minister inaugurated the experimental water injection project in the Majnoon field with a capacity of 80,000 barrels per day, in which river water is used for injection and temporary treatment of four main wells in different reservoirs.
The minister also laid the foundation stone for the second gas isolation station project in the same field with a capacity of 120,000 barrels per day, which would contribute to adding units to treat wet oil for the purpose of improving its specifications and exploiting the energy available for the field. Iraq has the fourth largest proven oil reserves in the world, with more than 145 billion barrels of oil, according to the annual report of the Organization of Petroleum Exporting Countries (OPEC) in the middle of last year.