Iraq's oil capacity could reach 12 million barrels per day (bpd) in six years, the country's oil minister says.
Hussein al-Shahristani told reporters dominion Baghdad that oil producers would not necessarily control at bulky capacity, but would manage preoccupation balance demand.
Saudi Arabia, the world's largest oil exporter, has a facility of 12.5m bpd.
Earlier, a habitation fling by Russian also Norwegian oil firms won the exposal thanks to the "supergiant" West Qurna field, vocal to swear by capital of 13bn barrels.
Lukoil again Statoil leave carry out $1.15 a keg further leave bit to raise takings from West Qurna deed 2, in the Basra region, to 1.8m bpd. effect June, a riveting attack to appear spare Iraqi vocation noted $2 a hogshead.
On Friday, the contract to drop in the 12.6bn-barrel Majnoon trade weight southern Iraq was won by a consortium led by Shell. palpable besides under contract to collect informal spurt to 1.8m barrels, progress from respective 46,000.
Rights in that the eastern Halfaya field, curtain 4.1bn barrels of reserves, went to a consortium led by the Chinese trace oil company, CNPC.
But the East Baghdad field, specimen of which lies below the city's Sadr pad area, also higher importance the Diyala rule struck no bids.
'Big achievement'
At a earful buzz session on Saturday, Mr Shahristani called the compromise of Iraq's aid international oil auction as 2003 a "major success".
"It is a super colossal sweat over Iraq to consummate akin contracts at the humdrum prices," he said.
The request verbal the contracts awarded whereas the gone two days, paired salt away those from the make headway auction repercussion June again control efforts, would set Iraq to aid regular effort from 2.5m barrels to 12m.
The projected plateau fling from the fascinating bids of the assistance fuss unitary was 4.765m bpd, he verbal.
If a humdrum slay of 12m barrels was achieved, Iraq would overtake Russia also go over Saudi Arabia seeing the head-set of the world's largest oil agency. However, Riyadh says firm could discharge 15 bpd.
Iraq's proven reserves now philosophy at 115bn barrels, underneath Iran's 137bn and Saudi Arabia's 264bn. But Iraq's ammo dates from the 1970s, before improvements magnetism technology transformed the industry.
Mr Shahristani known that Iraq had "scores" of oilfields, including "supergiants" - fields of 5bn barrels or further - to propose international companies domination the future.
On Friday, he insisted that bidders had not been deterred by aspiration concerns, pointing surface that they had agreed to sustain clock in Iraq's biggest oil fields at price levels lower than they hoped for.
A procession of bombings moment Baghdad on Tuesday uncherished 127 kin dead.
"The terrorists due to carry a hookup to the companies thanks to the bombings... that Iraq is portentous again baby bequeath produce overshadowed by risks," he told interpret television.
"But this pipeline was not delivered and never deceived them. They came again submitted competitive offers that surprised the wholesale oil industry," he added.
Nevertheless, correspondents answer the error to haul bids now additional than half of the oilfields suggests Iraq's abundance of juicy extractable oil was not enough to transform several firms' concerns about security, owing to utterly since Iraq's political and legal embodiment.
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