Iraq Plans to Boost Gas Output

Iraq plans to boost its gas output by 42.5 million cubic meters over the next five years, through its recent initiative to license exploration operations across 10 oil and gas fields in west Iraq and 13 sites on the country's western border, stated the Iraqi Oil Minister Hayan Abdulghani.
Abdulghani was speaking to the Emirates News Agency on the sidelines of the 8th OPEC International Seminar in Vienna, Austria.
The minister pointed out that these efforts were aimed at achieving self-sufficiency, Zawya reported.
Asked about OPEC's role in maintaining market stability, the oil minister said OPEC and OPEC+ issued several decisions that not only target oil prices, but also help stabilize the global oil market to protect the interests of both producers and consumers, as well as investors.
"The voluntary reduction in oil output will boost stability across the global energy market," he added.
Iraq's reserves total around 144.5 billion cubic meters of oil and over 3.75 trillion cubic meters of natural gas.
Abdulghani noted that the country’s numerous fields, which produce large amounts of oil and gas, are managed in cooperation with several international companies.