After steep reductions in January and February, the Oil Ministry appeared to take its foot off the brakes in March.
Iraq is set to increase gas product exports and reach agreements on gas with with IOCs operating southern oil fields, said Ismaael, who is also the chairman of Basra Gas Company.
Now that the Dhi Qar Oil Company has been spun off, the Oil Ministry rechristened SOC as the Basra Oil Company.
The Oil Ministry plans to develop a new contract model for future projects and has contracted Iraqi-Norwegian consultant Farouk al-Kasim as it explores adjustments to existing TSCs.
The country's fifth E&P company has officially become independent from South Oil Company.
Top Oil Ministry officials say Iraq is fully complying with an agreement to cut production.
It was the flagship project of Genel Energy, one of the KRG's lynchpin oil partners. Now the company says Taq Taq is less than 10 percent the size that was once advertised.
Exports are stable and no serious injuries were reported after one berth of the al-Basra Oil Terminal was badly damaged by a collision with a massive oil tanker.
Iraq's Oil Minister is bullish on the country's production targets setting another record this year.
Newly released official data for January and February show reduced federal oil sales – more evidence of Iraq's efforts to comply with an OPEC quota agreement.
