Oil Reserves Estimated
Posted on: Wednesday, 23 November 2005, 15:00 CST
According to Al-Bayan newspaper (November 22, 2005), studies issued by the Iraqi Oil Ministry estimated Iraq's announced oil reserves at 115 billion barrels
. The same source estimated at 214 billion barrels Iraq's non-announced oil reserves. Iraq has a number of undiscovered oil fields. The 58 undeveloped fields, including giant fields such as Nahr Umr, Halfaya and West Qurna, which are available for immediate development under production sharing agreement terms.Source: Info-Prod Research (Middle East)
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