Iraq starts Al-Karakun oil production
The article explains that Iraq intends to begin oil production from the Qarounin field in Najaf Governorate in 2027, in cooperation with the Chinese company Zinehua. The first phase involves drilling four wells, with initial production expected at approximately 3,240 barrels per day, aimed at collecting accurate data on the actual reserve sizes. This production is considered exploratory rather than commercial and seeks to determine future development stages and connect the field to export pipelines or refineries. The development of the field, which is estimated to hold more than 8 billion barrels of reserves, is expected to enhance Iraq’s position in oil production. This aligns with a national plan to increase production capacity from 4.8 million barrels per day to 10 million barrels by 2030, through collaboration with international companies to strengthen Iraqi oil capabilities.
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