Iraq Sets Oil Production Target of Nearly 10 Million Barrels per Day by 2030

ERBIL (Kurdistan24) – Iraqi Prime Minister Ali al-Zaidi on Tuesday chaired a high-level meeting with the ministers of finance and oil and a number of government advisors to discuss a strategic plan to develop and increase the country’s oil production between 2027 and 2030.

According to a statement from the Prime Minister’s Media Office, the meeting emphasized the need for Iraq’s oil production levels to correspond with the country’s oil reserves, energy-sector capabilities, and population size, to meet citizens’ needs and support economic development.

The meeting also stressed the importance of developing and modernizing oil infrastructure and expanding export capacity to keep pace with the anticipated increase in production.

Regarding natural gas, the meeting issued directives to make full use of Iraq’s gas resources to meet domestic energy demand, reduce gas flaring and waste, and achieve self-sufficiency in gas supplies, to end foreign gas imports.

The statement said directives were also issued to increase oil production from fields in the Kurdistan Region as part of efforts to achieve the strategic plan’s objectives and raise Iraq’s overall oil output to nearly 10 million barrels per day by 2030.

Meanwhile, the Ministry of Oil was tasked with organizing a major conference to bring together leading international oil companies. The conference will seek to attract investment, benefit from international expertise and advanced technologies, and finalize contracts for oil exploration, production, field development, and export projects.

The initiative is aimed at strengthening Iraq’s position in global energy markets while increasing state revenues and enhancing the country’s broader economic and financial capabilities.