Iraq's OEC set to implement 30 oil projects as part of 5-year plan: Report
Iraqi government-owned Oil Exploration Company (OEC) expects to implement more than 30 projects as part of its five-year plan, a news report said.
The most prominent projects are in the Western Habbaniyah, close to Baghdad, in Anbar Governorate, and south of Al-Faka in Maysan Governorate, Al-Sabaah, an Arabic newspaper reported, citing OEC Director General Dr. Osama Raouf Hussein.
Two other important projects are located in Nineveh, near Mosul, the report said.
More than 200 formations have not yet been explored or drilled, Hussein said, adding that these promising reserves will translate into oil or gas after exploratory drilling operations.
The company is undertaking seismic surveys, with potentially 50 geophysical investigations taking place after the data is processed to determine exploration locations, the official said.
The Western Desert is among the most promising gas regions, Hussein said.
OEC will work on several projects in the coming years, with 90 percent of these being gas-related, the report stated.
(Writing by P Deol; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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