Barty: The Council of Ministers' disregard for Kurdistan's salaries reflects a lack of concern for the citizens' crisis.
Kurdistan Democratic Party member Sherzad Hussein commented on Sunday (August 10, 2025) on the Federal Council of Ministers not discussing the issue of salaries of Kurdistan Region employees in its session today.
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Hussein told Baghdad Today, "It is unfortunate that the federal government continues to procrastinate, delay, and fail to form committees and issue reports, while the people of Kurdistan are suffering greatly."
He added, "June salaries should have been paid at least during today's session, pending the completion of discussions on technical issues, most of which do not relate to the KRG, which agreed to release the oil. The problem lies in the legal aspects and with the oil companies, which want guarantees in exchange for resuming exports."
He pointed out that "the people of Kurdistan should not be burdened with this lengthy discussion, while they are experiencing a stifling crisis. Failure to discuss the salaries issue in today's session demonstrates a lack of concern for the plight of the Kurdish citizen."
The Kurdistan Region's civil servants' salaries have been in crisis for months, stemming from disagreements between the Baghdad and Erbil governments over the management of oil resources and the implementation of budget provisions. This has been accompanied by political and popular demands for an urgent solution to prevent the deterioration of living conditions in the region.
Shakhwan Abdullah: The Kurdistan salaries file will be presented to the Council of Ministers after all issues are resolved.
The Second Deputy Speaker of the Council of Representatives, Shakhwan Abdullah, confirmed today, Sunday (August 10, 2025), that the joint committees between Erbil and Baghdad are currently discussing two main issues: oil and non-oil revenues. He indicated that a final agreement is imminent, after which the issue of sending salaries to Kurdistan Region employees will be included on the agenda of the Federal Council of Ministers.
In press statements monitored by Baghdad Today, Abdullah said, "Despite the approval of the law to repeal the decisions of the dissolved Revolutionary Command Council, the federal government has not fully implemented this law." He added, "Today, we delivered a letter from the federal prime minister to the relevant authorities to follow up on the implementation of the parliament's decision."
He explained that "the anticipated agreement will be based on the actual situation of oil production and domestic revenues, and that the two parties have reached an agreement on the oil issue and are in the final stages."
Abdullah confirmed that "once all issues are agreed upon, the salary payment issue will be added to the Federal Cabinet's agenda."
The Kurdistan Region's payroll issue is facing recurring complications due to disagreements between the Baghdad and Erbil governments over the management of oil and non-oil resources and the mechanisms for transferring funds. Political efforts and joint committees are underway to reach a final formula to end the crisis before the end of the fiscal year.
Sudanese advisor: White noise supports exchange rate stability in the Iraqi market
Saleh said in a statement to {Euphrates News}: “The continuation of these general policies constitutes positive information for the market, known as ‘white noise’, which is a condition that makes the market maintain stable rates and prevents the parallel market from taking any negative directions.”
He added, "The parallel exchange market is now moving toward convergence with the official fixed rate, which is considered one of the strongest stages of stability in the monetary market, as a result of the success of the three pillars of economic policy."
Al-Sudani announces decisive steps to reform Iraqi banks and restore confidence in the financial sector.
Prime Minister Mohammed Shia al-Sudani affirmed on Sunday the continuation of the comprehensive banking reform process through three basic steps, emphasizing the need for implementation to be based on a balanced vision that takes into account the specificities of Iraqi reality and ensures enhanced confidence in the banking sector.
A statement issued by his office, received by Al-Mada, said, "Al-Sudani was briefed on the latest developments related to the banking reform paper, particularly those related to private banks, appreciating the efforts made by the Central Bank of Iraq in preparing the document, which aims to enhance financial stability, achieve transparency, and raise the efficiency of the banking sector."
The statement indicated that "the Prime Minister paid special attention to the observations contained in the letter from the Iraqi Private Banks Association dated August 3, which included challenges facing local banks in implementing some provisions of the document, particularly those related to capital increase requirements, the adoption of a strategic partner, the costs of contracting with foreign companies, as well as the binding timelines. Accordingly, Al-Sudani called for adopting a participatory and consultative approach between the Central Bank and Iraqi banks by forming joint technical committees to review reform requirements and ensure their compatibility with the national financial and economic reality, in a manner that maintains a balance between reform requirements and the capabilities of local banks and protects the interests of investors and workers in this vital sector."
Al-Sudani explained that "the three approved steps begin with opening an expanded dialogue between the Central Bank and the banks to clarify the technical aspects of the document and discuss possible implementation mechanisms and their gradual progression. This includes taking into account the specificity of the Iraqi reality when applying international standards, while committing to reform in principle and formulating standards in a manner that enhances confidence in the banking sector. This is followed by reassuring the banking community through clear messages that the goal of reform is empowerment, not exclusion, and that the doors of discussion remain open to serve the national economy."
For his part, banking expert Majid Abdul Hamid told Al-Mada that "the document represents a necessary step to raise the efficiency of the banking sector and improve the business environment in Iraq, but its success depends on gradual implementation and linking each stage to a clear support plan." He explained that the immediate implementation of some provisions, such as increasing capital or requiring a strategic partner, could place small banks under significant financial pressure, which requires granting them appropriate periods of time to adapt.
Economist Ayad Al-Rawi explained to Al-Mada that "banking reform is part of a broader economic reform, and that raising technical standards for banks will boost the confidence of depositors and investors. However, he warned that the lack of effective communication with the public could lead to unjustified fears and sudden withdrawals of deposits."
He stressed that "gradualness and transparency in announcing measures will be key to the success of reform, calling for a supportive legislative and financial environment to reduce risks to the local market."
As the government continues its path of banking reform, the stakes remain on the ability of the relevant parties to balance adherence to international standards with their adaptation to Iraqi market conditions, thus preserving the sector's stability and enhancing its role in financing development and supporting the national economy.
Read the banking reform paper.. Al-Sudani directs the opening of a dialogue between the Central Bank and banks, especially private ones.
Prime Minister Mohammed Shia al-Sudani affirmed support for banking reform and the formation of joint committees to review the sector's requirements on Sunday .
Government spokesman Bassem Al-Awadi said in a statement received by Iraq Observer that “Prime Minister Mohammed Shia al-Sudani was briefed on the latest developments related to the banking reform paper, particularly those related to private banks. In light of the comments and responses he received in this regard, he highly valued the efforts made by the Central Bank of Iraq in preparing the banking reform document, which aims to enhance financial stability, achieve transparency, and raise the efficiency of the banking sector.”
The Prime Minister also affirmed "the government's support for all reform initiatives that would strengthen the structure of Iraq's financial system in line with international best practices."
At the same time, Al-Sudani paid "great attention to the objective observations and challenges facing local banks in implementing some provisions of the reform document, contained in the letter from the Iraqi Private Banks Association, dated August 3, 2025, particularly those related to capital increase requirements, the approval of a strategic partner, and the costs of contracting with foreign companies, in addition to the binding timelines in light of the proposed reform process."
He pointed out that, "Based on this, the Prime Minister emphasized the importance of adopting a participatory and consultative approach between the Central Bank and Iraqi banks, through the formation of joint technical committees tasked with reviewing reform requirements and ensuring their compatibility with the national financial and economic reality, while maintaining a balance between reform requirements and the capabilities of Iraqi banks, and protecting the interests of local and international investors and those working in this vital sector."
According to the statement, the Prime Minister reiterated his support and appreciation for all sincere national and international efforts exerted in this vital path. He also emphasized the importance of implementing a comprehensive banking reform process based on a balanced vision, through the following steps:
1- Opening an expanded dialogue between the Central Bank of Iraq and Iraqi banks to clarify the technical aspects of the document and discuss possible implementation mechanisms and their gradual progression.
2- Taking into account the specificity of the Iraqi reality when applying international standards, while emphasizing the need to adhere to reform in principle, and the need for standards and procedures to be formulated in a manner that enhances confidence in the banking sector and contributes to its development.
3- Work to reassure the banking community through clear messages, confirming that the goal of reform is not exclusion but empowerment, and that the doors of discussion are open to serve the public interest.
The Prime Minister directs the formation of joint technical committees to review the banking reform paper.
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Prime Minister Mohammed Shia Al-Sudani directed today, Sunday (August 10, 2025), the formation of joint technical committees to review the banking reform paper.
Iraqi government spokesman Bassem Al-Awadi said in a statement received by Baghdad Today that "Prime Minister Mohammed Shia al-Sudani was briefed on the latest developments related to the banking reform paper, particularly those related to private banks. In light of the observations and responses he received in this regard, he highly appreciated the efforts made by the Central Bank of Iraq in preparing the banking reform document, which aims to enhance financial stability, achieve transparency, and raise the efficiency of the banking sector."
Al-Awadi added, "The Prime Minister affirmed the government's support for all reform initiatives that would strengthen the structure of Iraq's financial system in line with international best practices."
According to the statement, he pointed out that "Al-Sudani also paid great attention to the objective observations and challenges facing local banks in implementing some provisions of the reform document, in the letter of the Iraqi Private Banks Association, dated August 3, 2025, especially those related to capital increase requirements, the adoption of a strategic partner, and the costs of contracting with foreign companies, in addition to the binding timelines in light of the proposed reform process." He indicated that "based on this, the Prime Minister stressed the importance of adopting a participatory and consultative approach between the Central Bank and Iraqi banks, through the formation of joint technical committees concerned with reviewing reform requirements and ensuring their compatibility with the national financial and economic reality, in a way that maintains a balance between reform requirements and the capabilities of Iraqi banks, and protects the interests of local and international investors and workers in this vital sector."
Al-Awadi continued, "The Prime Minister reiterated his support and appreciation for all sincere national and international efforts made in this vital path. He also stressed the importance of implementing the comprehensive banking reform process according to a balanced vision, through the following steps, including opening an expanded dialogue between the Central Bank of Iraq and Iraqi banks, to clarify the technical aspects of the document, and discuss possible implementation mechanisms and their gradual progression, in addition to taking into account the specificity of the Iraqi reality when applying international standards, while emphasizing the need to adhere to reform in principle, and the need for standards and procedures to be formulated in a manner that enhances confidence in the banking sector and contributes to its development, in addition to working to reassure the banking community through clear messages, confirming that the goal of reform is not exclusion but empowerment, and that the doors of discussion are open in a way that serves the public interest and the Iraqi economy.
The toman is worth nine million for every $100.
: The price of the toman, today, Sunday (August 10, 2025), recorded nine million for every 100 dollars, affected by news of upcoming negotiations between Iran and the United States of America.
Informed sources confirmed to the Tehran Times, followed by Baghdad Today, that "Tehran and Washington are showing a willingness to resume negotiations, but with a fundamental difference this time, as Iran is demanding that a clause for compensation for damages resulting from military operations be included as a fundamental part of any future agreement."
Sources said that "Norway has emerged as a leading candidate to host a new round of talks between Iran and the United States amid escalating regional and international tensions over the Iranian nuclear issue."
She added, "These negotiations are expected to begin indirectly, through a mediator who will act as a conduit between the two parties, starting this month."
By integrating the private sector, an expert says Iraq has the potential to attract hard currency through the tourism investment sector.
Economic and financial expert Safwan Qusay confirmed that Iraq has the potential to increase its attractiveness in the tourism investment sector, given that it currently boasts 12,000 cultural and religious tourist sites, in addition to natural areas.
Qusay told the Iraq Observer, "The Tourism Authority should demand the return of the Authority's assets and invest them rationally, involving the regular private sector in the investment sector, whether in hotels, restaurants, or transportation. Millions of tourists visit Iraq annually, so tourism is a sustainable source of income."
He added that Iraq has an opportunity to connect the holy cities of Najaf and Karbala to Mecca via a train, which could contribute to sustaining tourism revenues throughout the year.
Regarding the path to development, the economic expert explained, "Iraq looks forward to completing this project, which could contribute to the visits of these tourists and the creation of complementary industries to express the possibility of having crafts and some tools that could contribute to strengthening popular industries, with the aim of creating memories for tourists of their visit to Iraq.
" He continued, "Iraq could have a stable currency, as tourists spend in different currencies. This is also a source of income for obtaining foreign currencies, facilitating their entry into the country and converting them into Iraqi currency in various ways."
Last April, the Ministry of Culture, Tourism and Antiquities announced the entry of more than 500 European and American tourists to Iraq during the past year, while expecting an increase in numbers during the current year 2025, stressing that Iraq is witnessing remarkable tourism development with economic and political stability.
Al-Faraj criticizes the Central Bank's standards for reforming the banking sector and offers proposals for a solution.
conomist Mustafa Al-Faraj believes that the standards set by the Central Bank of Iraq for reforming the banking sector are "strict and prohibitive" and unworkable under current economic conditions.
Al-Faraj explained that among these criteria is raising capital to 400 billion Iraqi dinars by the end of 2025, a nearly impossible goal given investor reluctance and the restrictions on more than 43 local banks by the Central Bank. The Central Bank also requires the presence of a foreign strategic partner under strict conditions, a goal that is difficult to achieve in the current investment environment.
Al-Faraj indicated in a statement to Noon News Agency that the Central Bank has imposed three paths on banks, one of which must be committed to before August 31, 2025:
- Continuing on the condition of meeting the capital and foreign partner and bearing annual expenses of $2.4 million for four years.
- Merger with local banks, with the same conditions as before, but at a cost of half the annual amount for each bank.
- Final liquidation of the bank.
Al-Faraj added that these high financial obligations constitute a significant burden on banks, especially given their requirement to hire accredited international consulting firms to audit their operations, which increases costs without any clear benefit. The standards also impose restrictions on the ownership percentage of related shareholders, not exceeding 10%, with the possibility of raising it to 20% by decision of the Central Bank, a complex matter given investor reluctance.
Al-Faraj warned that these standards could lead to the liquidation of banks and undermine public confidence in the banking sector, emphasizing that real reform must begin with genuine support for banks that takes into account the local economic reality.
Al-Faraj proposed several solutions to address the crisis, including:
- Rescheduling banks' financial obligations in line with their current circumstances.
- Providing financial and technical incentives to encourage investors to subscribe and support the sector.
- Amending the conditions for the presence of a foreign strategic partner to be more flexible and appropriate to the investment environment.
- Involving bank representatives in formulating standards to ensure their practical and transparent implementation.
- Promote transparency regarding the role of consulting firms and clearly define the return on their services.
- Adopting a flexible timetable that allows banks to adapt to requirements without the immediate threat of liquidation.
Al-Faraj stresses that reconsidering these standards is an urgent necessity to maintain the stability of the banking sector and support its vital role in the national economy.
The Central Bank Governor announces funding for housing projects and international praise for dollar transfer operations.
Central Bank Governor Ali Al-Alaq announced today, Sunday (August 10, 2025), that the bank has financed housing projects with an amount of 12 trillion and 300 billion dinars.
In a press statement followed by Baghdad Today, Al-Alaq noted that "international parties have praised the dollar transfer operations conducted by the Central Bank," stressing that "Iraq is unique in being the only country that successfully carries out these operations."
As the Iraqi government strives to strengthen the housing sector and provide the necessary financial support for housing projects, the Central Bank plays a pivotal role in financing these projects with large sums of money, aiming to improve the housing situation for citizens.
Housing finance worth 12 trillion... and the Central Bank achieves an international achievement by converting dollars
Al-Mustaqillah/- The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced that the bank has financed housing projects in Iraq with a significant amount of 12.3 trillion dinars, in a significant step to support the housing sector and provide suitable housing for citizens.
Al-Alaq pointed out that this financing is part of the Central Bank's efforts to stimulate economic development and meet the local housing market's needs, contributing to improving the lives of Iraqis and enhancing social stability.
The Central Bank Governor also explained that Iraq occupies a unique position internationally in the field of dollar transfer operations, with international parties praising the efficiency and transparency of these operations, which are supervised by the Central Bank.
He added that this excellence in managing currency exchange operations reflects the Central Bank's ability to control the money market and achieve financial stability, despite the economic challenges facing Iraq.
It is worth noting that these achievements come in light of the Central Bank's ongoing efforts to strengthen the Iraqi banking system, support vital sectors, and ensure the stability of the Iraqi dinar exchange rate, in a manner that serves the national interest and enhances confidence in the local economy.
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An Iranian advisor reveals details of the "disarmament of the Popular Mobilization Forces" call with Maliki.
Ali Akbar Velayati, an advisor to Iran's Supreme Leader, revealed details of a recent phone call with Nouri al-Maliki, head of the State of Law Coalition. The call centered on concerns that the disarmament issue would be transferred from Lebanese Hezbollah to the Popular Mobilization Forces (PMF).
This came in response to a question about similar plots orchestrated by the US against the Popular Mobilization Forces in Iraq, during an interview with the Iranian Tasnim News Agency.
Velayati referred to a recent phone call he had with Nouri al-Maliki, whom he described as a "brave man" for having issued the death sentence for Saddam during his reign and expelling the "gang of hypocrites" from US forces in Iraq.
The Supreme Leader's advisor said that Maliki confirmed during the call that the United States and Israel would move on, after Lebanon, to target the Popular Mobilization Forces in Iraq.
Velayati added: "We agreed that Iran and Iraq will reject the disarmament of Hezbollah in Lebanon or the Popular Mobilization Forces in Iraq, and will stand in the way of that."
He continued, "If it weren't for the Popular Mobilization Forces, the Americans would have swallowed Iraq. The Popular Mobilization Forces play the same role in Iraq that Hezbollah plays in Lebanon."
The Lebanese Ministry of Foreign Affairs and Emigrants condemned Velayati's statements on Saturday, deeming them "blatant and unacceptable interference in Lebanon's internal affairs."
The State of Law Coalition warns Sudan: Escalation with factions threatens the elections and opens the door to chaos!
The State of Law Coalition, led by Nouri al-Maliki, warned Prime Minister Mohammed Shia al-Sudani on Sunday against any escalation with armed factions in the coming period.
Coalition leader Hussein al-Maliki said, "The law must be applied to everyone, but this step, which came as a result of the formation of the investigative committee (in the agricultural incident) and the announcement of its results, is an escalation, especially since it coincided with the British representative's statement on the Popular Mobilization Forces issue and the US veto of the Popular Mobilization Forces law."
Al-Maliki stated, "These issues must be resolved through political means, because external parties are trying to push the Iraqi government into a confrontation with the resistance factions, something neither the region nor Iraq can tolerate. It appears that there are those working to ignite a Shiite-on-Shiite conflict, and they have found in this a loophole to embroil the government and the factions in an internal conflict."
Al-Maliki suggested that al-Sudani was now operating according to his bloc's decisions and foreign relations, rather than the principles of law and state. If this conflict erupts, the electoral process will be disrupted, the country will slide into chaos, and we may reach an emergency government or even a return to the mandates of Article 7.
He stressed the need to "hold the perpetrators accountable, but without announcing the name of the party, as this is a political approach. Repeatedly announcing names and insisting on the confiscation of weapons, while not passing the Popular Mobilization Law, sends the message to citizens that these measures are in response to external orders, and this undermines confidence in the government." He expressed his hope that the government would handle such issues politically, wisely, and with a sense of responsibility toward the state.
President Barzani receives the new and former US consuls in Erbil.
President Masoud Barzani received Gwendolyn Green, the new US Consul General in Erbil, and Steve Bittner, the former US Consul General in Erbil, at the Saladin Resort on Sunday, August 10, 2025.
During the meeting, President Barzani expressed his wishes for success for both the new and former US Consul Generals in their new assignments. He also expressed his thanks and appreciation to the former Consul General for his distinguished role during his tenure in the Kurdistan Region in strengthening bilateral relations between the United States and the region, promoting joint action, and implementing reforms within the Ministry of Peshmerga. President Barzani also praised the United States' stance and support since the 1991 uprising and its subsequent events, the fall of the former regime in Iraq, and the war against ISIS terrorists, and highly valued these stances and continued American support.
For his part, the former US Consul General in Erbil expressed his gratitude and happiness for his tenure in the Kurdistan Region. He noted the support of President Barzani and the regional government institutions in facilitating their work, emphasizing the strength of relations between the United States and the Kurdistan Region. He also highlighted the current situation, the upcoming Iraqi parliamentary elections, and the formation of the new Kurdistan Regional Government cabinet, emphasizing his appreciation and importance of President Barzani's role in normalizing and calming the situation in Iraq and the region.
The new US Consul General also addressed President Barzani's role, describing it as legendary, and emphasized the close and enduring bilateral relations between the United States and the Kurdistan Region.
Other topics discussed at the meeting included the latest developments and challenges facing the region, the progress of the peace process in Türkiye, and the situation in Syria.
Nechirvan Barzani to the new US consul in Kurdistan: The need to expand cooperation
Kurdistan Region President Nechirvan Barzani stressed on Sunday to the new US Consul General Gwendalyn Green the need to expand relations between the region and the United States.
The Kurdistan Region Presidency said in a statement received by Shafaq News Agency, "Barzani received the new US Consul General in the region, and Steve Vitner, the former Consul General. During the meeting, President Barzani expressed his welcome and congratulations on Greene assuming her new duties."
She added, "Barzani affirmed the region's readiness to provide all forms of support to ensure the success of her work. He also expressed his thanks and appreciation to Wittner for his role in strengthening relations between the United States and the Kurdistan Region during his tenure."
President Barzani praised the United States' support for Iraq and the Kurdistan Region in various fields, stressing the region's desire to develop relations and expand areas of joint cooperation with Washington, according to the statement.
For his part, the former Consul General expressed his gratitude to President Barzani and the relevant authorities in the region for their support and cooperation during his tenure.
For her part, the new Consul General affirmed that her country views the region as an important partner, expressing her desire to continue and expand the framework of joint cooperation.
The meeting also addressed, according to the statement, "relations between Erbil and Baghdad, the situation in Iraq and the Kurdistan Region, and the latest developments in Syria and the region in general."
Almost impossible... Iraqi banks are threatened with closure due to the Central Bank's new conditions.
Economic expert Mustafa Hantoush considered, on Sunday, that the requirement to raise the capital of Iraqi banks to 400 billion dinars, in addition to the necessity of having a foreign partner, are “almost impossible conditions” at the current stage, especially with foreign investors reluctant to enter the Iraqi market due to the political and economic uncertainty.
Hantoush said in a statement to Al-Maalouma, “Implementing these standards requires a more open investment environment and deeper reforms to the economic and legal infrastructure,” stressing that “a number of Iraqi banks provide good services and deserve support and incentives, not to be subjected to strict standards that could lead to their closure.”
Hantoush called on the Central Bank of Iraq to “adopt a gradual reform plan that takes into account the reality of the local market and the balances between protecting the banking sector and stimulating its growth,” stressing that “financial policies must focus on enhancing the competitiveness of national banks rather than weakening them.”
This comes amid moves by the Central Bank to grant new licenses to foreign banks, a move some see as an attempt to increase competition and improve services, while others warn it could exacerbate the challenges facing local banks.
Shakhwan Abdullah: The Kurdistan salaries file will be presented to the Council of Ministers after all issues are resolved.
The Second Deputy Speaker of the Council of Representatives, Shakhwan Abdullah, confirmed today, Sunday (August 10, 2025), that the joint committees between Erbil and Baghdad are currently discussing two main issues: oil and non-oil revenues. He indicated that a final agreement is imminent, after which the issue of sending salaries to Kurdistan Region employees will be included on the agenda of the Federal Council of Ministers.
In press statements monitored by Baghdad Today, Abdullah said, "Despite the approval of the law to repeal the decisions of the dissolved Revolutionary Command Council, the federal government has not fully implemented this law." He added, "Today, we delivered a letter from the federal prime minister to the relevant authorities to follow up on the implementation of the parliament's decision."
He explained that "the anticipated agreement will be based on the actual situation of oil production and domestic revenues, and that the two parties have reached an agreement on the oil issue and are in the final stages."
Abdullah confirmed that "once all issues are agreed upon, the salary payment issue will be added to the Federal Cabinet's agenda."
The Kurdistan Region's payroll issue is facing recurring complications due to disagreements between the Baghdad and Erbil governments over the management of oil and non-oil resources and the mechanisms for transferring funds. Political efforts and joint committees are underway to reach a final formula to end the crisis before the end of the fiscal year.
BP brings a field back online after a 21-year hiatus.
PreparingOil CompanyBritish Petroleum (BP) to increase its oil and gas production inNorth Sea...after announcing the resumption of work on the giant Morlak field, which had been halted for 21 years due to its economic infeasibility.
She saidOil CompanyBritish, the Morlac field inNorth SeaIt contains 20 million barrels of oil and 600 million cubic meters of gas, which would require 11 years of work to extract.The field is expected to produce approximately 20,000 barrels of oil and 17 million cubic feet of gas per day.
Work on the giant field will boost BP's North Sea oil and gas production, which has been declining in recent years. Production fell from 96,000 barrels of oil per day in 2020 to just 70,000 currently, while gas production also fell from 221 million cubic feet per day to 197 million cubic feet.
Shell's field began operating in 2003 and closed in 2021. The oil and gas giant brought it back to life and expects to produce 45,000 barrels of oil per day, with production expected to commence this year.
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