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Iraqi Oil Capacity To Reach 12 Million Bpd, Minister Says

Iraqi Oil Minister Hussain al-Shahristani
BAGHDAD (Reuters) -- Iraq's oil capacity will reach 12 million barrels per day (bpd) from all the contracts it is negotiating with international companies, as well as its own efforts, Oil Minister Hussain al-Shahristani said today.

Projected plateau production from a second round of bidding for oil fields, held on December 11-12, alone is 4.765 million bpd, he said.

Shahristani also said that Iraq still has "scores" of oil fields, including supergiants and giants, to offer international oil companies.

Iraq' second oil-field auction since the 2003 U.S. invasion marked a "major success," Iraqi government spokesman Ali al-Dabbagh told Reuters.