Oil minister calls on IOCs to raise production
One week into his tenure, Jabbar Allibi has scrapped an austerity policy and notified oil companies they should draw up plans for increased crude production and gas capture.
Workers operate a drilling rig at the West Qurna 2 oil field in Basra. (ALI ABU IRAQ/Iraq Oil Report)
Newly confirmed Oil Minister Jabbar Allibi is setting high expectations for international oil companies (IOCs) to boost their investment in Iraq and increase production.
In an Aug. 21 letter addressed to "all contractors," Allibi* signaled an end to an austerity policy under which the ministry had instructed oil companies to spend only enough to keep production steady at Iraq's major fields.
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