A spokesman for the Oil, Gas and Natural Resources Committee, MP Ali Shaddad, reported that the oil fields in Maysan Governorate, located in eastern Iraq, currently produce approximately 300,000 barrels of crude oil along with around 140 million cubic feet of associated gas daily.
In a recent statement, Shaddad emphasized that ongoing rehabilitation efforts within the government’s strategic plans and the Ministry of Oil Development are focused on enhancing daily production levels of both crude oil and associated gas in the Maysan region.
He noted that daily production of associated gas has reached 140 million cubic feet from the Al-Bazrakan, Al-Fakkah, and Abu West fields, with roughly 30 to 35 million cubic feet being utilized to operate the electrical stations within these fields.
Shaddad reaffirmed that initiatives are underway to maximize the utilization of associated gas, thereby supporting the operation of electrical power plants.
With current rehabilitation and expansion projects progressing, these fields are projected to sustain crude oil production at approximately 300,000 barrels per day, contingent upon the continuous investment efforts from the companies engaged in these operations.
In the wake of the U.S. administration’s decision to revoke Iraq’s exemption for importing Iranian gas, the Iraqi federal government is intensifying its efforts to address energy shortages, particularly as summer approaches and electricity demand escalates due to rising temperatures.
Iraq remains a participant in the OPEC+ framework, currently managing 2.2 million barrels per day of crude oil that are not on the market. The coalition has recently confirmed its intent to progressively release these barrels starting in April, despite previous delays attributed to prevailing market conditions.
According to upcoming OPEC regulations, Iraq’s production quota is set to increase by 12,000 barrels per day each month beginning in April, even while the country has committed to compensating for any overproduction scenarios anticipated in 2024.
