Iraq oil capacity to reach 12 million barrels per day: Oil minister

Iraq’s oil capacity will reach 12 million barrels per day (bpd) from all the contracts it is negotiating with international companies, as well as its own efforts, oil minister Hussain al-Shahristani said on Saturday.

Projected plateau production from a second round of bidding for oil fields, held on Friday and Saturday, alone is 4.765 million bpd, he said.

Shahristani also said that Iraq still has “scores” of oil fields, including supergiants and giants, to offer international oil companies.

Iraq’s second oil field auction since the 2003 US invasion marked a “major success,” Iraqi government spokesman Ali al-Dabbagh said