Iraqi Dinar Discussion Board

[Panhead]

The increase in production capacity will activate the investment

April 3, 2010

BAGHDAD - morning

Economists confirmed, that the increase in production capacity will activate the investment in the oil sector and the expansion of the outlook in line with the Iraqi Government's plans to rely on investment as the basis for a strong national economy in the next stage and face the global economic crises and to prevent being influenced by some large.

Dr. Raad Hamdani of the Iraq Center for International Studies and Strategy pointed out that the doubling of efforts in this regard and the pace of work would expand to invest in oil fields, especially undiscovered, along with efforts as well as for incorporation within the system of the discovered fields and working in Iraq during the current phase, adding The technical staff and engineering in the Oil Ministry and its institutions are working hard in this context, we call on them at the same time seeking to raise the pace of production commensurate with the necessities of progress and the announcement of investment of more than an oil well in the general areas of Iraq and within the short period of time and meet the requirements of economic development and resource development Finance of the country in line with the current realities of the trend towards the provision of substantial financial resources to counter the effects of the global financial crisis and rationalization of the paragraphs of the financial budget for the current year.

He added that the process of upgrading oil production requires long periods of time during which work on the development of infrastructure for the oil sector in Iraq, which had been repeatedly to sabotage and negligence as to make Iraq largely missing out on other countries, exporting and producing oil in the world, here you must have a clear vision investment policy successful during the next phase, characterized by rounds of licensing successive announced by the Ministry of Oil and contracts with a number of international companies advanced in this area, which makes the oil production in Iraq jumps to the rate of (4.765) million barrels per day and access to the roof of the ( 12) million barrels per day and compete with Saudi Arabia, which is currently producing (12 - 13) million barrels per day.

With the expert on the studies of oil Sami Al-Shukri, chairman of companies, the good of Iraq's oil investment: the higher rate of production of oil fields and the optimal exploitation by investing in oil companies would be the rule sober by which construction of the biggest fortune in Iraq and the region, and benefit the presence of representatives of the biggest international companies specialized in the investment of oil fields in the world and raise domestic production and the importance of training cadres working in the oil sector with the need to benefit from the experience of those companies in this field.

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