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Development of oil production and its positive impact on the development of countries

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Development of oil production and its positive impact on the development of countries

28/5/2017 12:00 am
Ahmed Al-Rikabi

Iraq occupies a prominent place among the founding States of the Organization of petroleum exporting countries (OPEC), where the assumption of second Saudi Arabia in oil production, production amounts to approximately 4.6 million barrels a day — before the latest OPEC agreement stipulates that oil production economically and sustainably.

Oil exporting countries agreed unanimously in January 2017 to reduce overall production by 1.2 million barrels a day from January 2017 to restore balance between supply and demand, thus improving oil prices, Iraq has agreed to reduce its production by about 200,000 barrels to 4.35 million barrels a day.

Energy experts predict turn Iraq into one of the largest countries in oil and gas production, and lay its importance and future role on the regional and global level through access to oil and gas stocks, adding to occupy Iraq an outstanding Center of oil reserve stocks and invader, sources indicate us geological studies by having massive amounts of oil reserves that have not been discovered yet in Iraq.

Iraq has stressed the need to implement plans for production and development of the fields during several meetings between the representatives of the Ministry of oil and investment companies, and most recently when Iraqi oil Minister Jabbar allaibi expanded with representatives of oil companies operating within the licensing rounds in the presence of petroleum contracts and licensing service managers of the oil sector companies involved, in addition to the joint oil fields departments.

The oil Minister has stressed the need to implement the obligation of production plans and development of oil fields.

Various global companies announced production plans for subsequent years, including Iraq, Shell Petroleum development company – operator of the field, where oil company crazy contract with Halliburton to develop Majnoon oil through development drilling and Prep work for wells in 2018 and 2019.

Under the contract, Halliburton Company will move the world three platforms drilling for the purpose of developing the field, and will work in close cooperation with an oil company in Basra, the Ministry of Oil.

And move the rigs of various websites down to crazy field of view to begin drilling which in turn will allow the company to continue to pay the production plans and develop one of the largest fields in the world.

And the oil Ministry confirmed permanent ambition in developing oil projects to reach high production rates that will meet the needs of the stage and the development of Iraq's financial imports, by adopting modern technology used to drill oil wells and oil and professional project management.

The importance of oil for producing countries through effective contribution to sustainable economic development by providing oil revenues to finance consumer goods and services, and of being a substance that can be exploited in the construction of an industrial base being one of the elements necessary for the production of any other industries.

And shows the impact of the oil industry through its effect on the industry that relies on crude oil and natural gas.

Despite the decline in manufacturing's contribution to GDP, but the nature of this industry in oil-exporting countries, which is on a job well done and a modern oil refinery industries and metal industries and chemical fertilizers make her important Great.

Sustainable development depends on multiple sources, whether natural sources directly, or intermediate production inputs available besides a qualified cadres lead the development, sustainability, check her work on achieving sustainable development must be accompanied by a rationalization of natural resources consumption, not drained, in addition to the need to find a balance between the current standard of living which his aspiring region and not exaggerate Extravagance.

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