Oil and Gas

First scientific symposium on oil exploration held in Baghdad



(21 Nov 2018) LEADIN:
A two-day conference exploring Iraq’s oil reserves has started in Baghdad today, (Wednesday).
According to the country’s oil ministry, it has the largest oil reserves in the world and is looking to increasing its productivity.
STORYLINE:
A two-day conference on oil exploration kicks off in Iraq.
The scientific convention, sponsored by Iraq’s Oil Ministry, gathers oil and gas researchers, company managers, and government officials, with the aim of highlighting the potential for unexplored areas in Iraq.
“Iraq has the largest oil reserves in the world, estimated at about 500 billion barrels, of which we’ve only discovered 153 billion,”  said Assim Jihad, Iraq Oil Ministry spokesperson.
Speakers show geological surveys and case studies on how to detect fossil reservoirs and find better ways of exploiting new areas of hydrocarbons.
Researchers, seismologists, geologists and energy company representatives will be debating recent findings and new technologies.
They are also expected to discuss how to tackle challenges when building new oil facilities, conducting underground explorations as well as technical and economic risks link with oil exploration.
Important regional and international oil companies like Crescent Petroleum and the Algerian government-owned Sonotrach are taking part in the conference.
Crescent Petroleum is based in the United Arab Emirates but has major operations in the northern Kurdish region of Iraq.
The American energy giant Chevron is also represented at the conference which will end tomorrow (Thursday).

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