Iraq’s Maysan Oil drills first well on Iranian border

11/07/2017 13:27 Oil Market

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Iraq’s state-owned Maysan Oil will survey the production of oil and gas at the Haifaya oil field, which was opened while the Oil Minister Jabrane Al-Luaibi was visiting.

The minister said that the expansion works the field is currently under will enable a boost in it’s production, expected to reach 400,000 barrels per day by the end of 2018.


The relationship between Iran and Iraq have been cordial for the past few years, especially since Iran finally started exporting natural gas to Iraq following security-related setbacks. 


The daily quota of the exports kicked off at around 7 million cubic meters the previous month, and should come to 35 million cubic meters somewhere in the near future.


Iraq is OPEC’s second largest oil producer, lagging Saudi Arabia only when concerning national output. In May and June, production from OPEC countries boosted by 220,000 barrels per day, and the outpouring productivity from Libya and Nigeria caused the bloc to outpace its 31.9 million barrels per day maximum by 600,000 barrels.

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