You are here: Home » Reuters » News
Business Standard

Exclusive: Iraq close to deal with foreign firms to upgrade output, export capacity

Reuters  |  BAGHDAD 

By and John Davison

BAGHDAD (Reuters) - is in talks with international companies to help upgrade its and export capacities and an agreement is to be reached soon, Iraqi said on Tuesday.

"This is a top priority. We have talks with international companies which lasted for a while but now we are about to reach a deal and we will settle this issue soon," Ghadhban told

He said was targeting a production capacity of 5 million barrels per day (bpd) in 2019 and its export average was expected to reach around 3.8 million bpd.

also plans to boost export capacity, after upgrading its energy infrastructures, to 8.5 million bpd in the "coming years", Ghadhban said.

This upgraded export capacity would include 6.5 million bpd from the southern oilfields, with 1 million bpd to be available after completing construction of a new Kirkuk-

received bids from three to build a giant water treatment facility vital for the OPEC member to grow its capacity, Ghadhban said.

He said he expected work to begin in early 2019 and that the cost of the project was several billion dollars.

An additional 1 million bpd of export capacity would be added from a pipeline that eventually will connect the southern city of with Jordan's port of Aqaba, he said, and that building new pipelines aims to "diversify our export outlets".

A final deal is expected to be reached with to boost output from oilfields around the northern city of Kirkuk, Ghadhban said.

"I have met their (BP) yesterday and I hope very soon we reach an arrangement ... it's one of the priorities," he said.

(Reporting by Ahmed Rasheed; Editing by Dale Hudson)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 06 2018. 19:24 IST