Iraq to drill 18 oil wells by late 2012
Iraq plans to drill another 18 oil wells in Kirkuk Province by late 2012, as part of the project to increase oil production in Northern Iraq, a source in the country's government told Trend news agency on Tuesday.
He said 15 of the planned wells will be drilled on the Bay Hasan field. In total, by mid-2013 it is planned to drill about 35 wells in the fields at Kirkuk. In addition, suspended wells in the fields of Jamburia and Djabbaz will also be restored.
Iraq increased its oil exports to 2.600 million barrels per day in September 2012.
Oil production in Iraq as of late 2011 was 2.798 million barrels per day.
According to BP, Iraq's proven oil reserves as of late 2011 amounted to 143.1 billion barrels.
The country ranks third in OPEC after Saudi Arabia and Iran.
The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in the south of the country. About 80 per cent of the oil produced in Iraq is exported.
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