Iraq expects to return oil production from its southern fields to levels exceeding three million barrels per day within one to two months, Reuters reports citing Iraq’s state news agency, which cited an oil ministry spokesperson.
Iraq normally exports a total of around 3.6 million barrels of oil per day (bpd) and before the Iran war, around 3.4m bpd flowed through its southern Basra terminals.
“There was no fixed timetable for restoring exports to previous levels because production capacity and reservoir conditions vary from one field to another,” Iraqi oil ministry spokesperson Saleem al-Rikabi says.
He adds that the ministry is currently prioritising fields producing associated gas, liquefied gas and condensates, adding that restoring export capacity and tanker activity will progress alongside production recovery.
