Iraq plans to double output by 2005

Iraq, the holder of the world’s second-biggest oil reserves, is producing oil at two-thirds pre-war levels and plans to double output by 2005, the country’s oil minister said. Exports are now at 900,000 barrels a day, Oil Minister Ibrahim Mohammed Bahr Al Ulum has stated. He expects that to rise to 1.5 million barrels a day by year-end and 1.8 million by the end of March. “We are hoping for foreign oil companies and welcoming proposals” to help boost production to 4 million barrels a day within two years, Bahr Al Ulum said. Rehabilitating Iraq’s oilfields will cost more than USD 2 billion, the minister said. Production is now 1.8 million barrels a day, and probably will rise to two million by year-end and 2.8 million by end of March, he said.
CONTACT: To participate in the reconstruction programme in Iraq, it is necessary for contractors and suppliers to register with the applicable main contractor as appointed: Bechtel (Civils and Infrastructure), https://supplier.bechtel.com, https://contractor.bechtel.com,
iraqacqu@bechtel.com; (oil and gas): KBR / Halliburton, Dwayne Bourque, Dwayne.Bourque@Halliburton.com, +1.713.676.7158, fax +1.713.676.3777,
Eric Hoeny, eric.hoeny@halliburton.com




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