Iraq Plans to Boost Oil Production to Over 6 Million Barrels Per Day by 2029
Baghdad –INA
Oil Ministry announced on Sunday plans to increase oil production to more than 6 million barrels per day (bpd) by 2029, while confirming an agreement with BP to develop four oil fields in Kirkuk.
Deputy Oil Minister Basim Mohammed Khudair told the Iraqi News Agency (INA) that the ministry aims to expand oil and gas production capacities under a clear five-year plan, targeting an output exceeding 6 million bpd between 2028 and 2029.
'The ministry is working to achieve this goal through projects across all provinces, leveraging exploration activities by the Oil Exploration Company, as well as drilling and production operations under the six licensing rounds,' he said.
Khudair highlighted the Integrated South Gas Development Project at the Artawi field as one of the key ongoing extraction projects. He also noted an agreement to develop four major oil fields in Kirkuk, with a final contract expected to be signed with BP in the coming days.
He added that national extraction companies now handle 70% of operational activities.
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