Sep 3 2013
By Dalya Ahmad
Azzaman, September 3, 2013
Oil is flowing for the first time from a newly developed Iraqi oil field in the south.
The field of Gharraf is the first to come on stream among several gigantic fields the country is developing in cooperation with foreign majors.
“We have started exporting oil from the field of Gharraf,” said Oil Minister Abdulkarim al-Aibi in a statement faxed to the newspaper.
The minister said the field currently produces 35,000 barrels a day and it should surge to 230,000 barrels daily by 2017.
The minister estimated Gharraf’s proven reserves at more than 7 billion barrels.
It is one of several gigantic fields which were discovered in the second half of the last century.
The flow of oil from Gharraf is good news for the impoverished southern Province of Dhi Qar.
Besides employing thousands of people, the province is entitled to $2 from each barrel of oil Gharraf produces.
The so-called petro-dollar project has become a major source of income for oil producing provinces in Iraq.
The sums these provinces earn from the scheme are invested in infrastructure and reconstruction projects.
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