MOC to Compensate Oil Production Shortage from North Oilfields

Maysan Oil Company (MOC) announced about its intentions to increase its oil production to compensate the shortage of oil exports stopped from the Iraq’s north oilfield and Kurdistan.

 MOC manager Ali Maarch said in a statement distributed in a newsletter by the company “ all local and foreign companies working in the oil sector has an annual plan, most of them are parallel, but the recent repercussions disrupted the situation. But the Iraqi oil ministry will have a response to these developments and we will announce in the next few months the oil compensation for the shortage of Kirkuk and Kurdistan oilfields”.

He added “ the expected production capacity for Maysan oil company in the end of 2016 will be one million barrels per day, within the national first and second rounds permits”.
Maarch indicated “ work in MOC is going on to reach 350 to 400 barrels per day production at the end of this year 2014”.

He confirmed “on the stability of the security situation in the province, and the well of the foreign companies to continue working on the oilfields development”.

In a previous statement Maarch denied news of foreign companies staff leaving the province because of the security situation in Iraq, and indicated that all foreign companies in Maysan oil sector are working normally in the province.

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