Production - Foreign - Oil and Gas Development in Iraq during 1938

Oil produced in Iraq for export during 1938 was 31,354,090 bbl., or a daily average of 85,901 bbl; This is an increase of 182,614 bbl., or 0.5 per cent over 1937. All oil exported was produced from the Kirkuk field. The Khanaqin Oil Company, Ltd., a subsidiary of the Anglo-Iranian Oil Company, Ltd., continued to supply local market requirements from its Naft Khaneh field in the Transferred Territories. Slightly more than 32,000,000 bbl. was produced in Iraq, a small part of which was used in field operations. During the year 12 wells were completed and 9 wells were drilling at the end of the year. Of the completions, 5 were producers and 1 was an oil-water level observation well in proved fields, and 6 were listed as failures. Basrah Concession The outstanding event of the year was the granting, by the Kingdom of Iraq, of a 75-year concession embracing approximately 89,000 sq. miles to the Basrah Petroleum Company, Ltd., a British company with French and American participation. The concession covers all parts of the Kingdom, its territorial waters, islands, submerged lands, and its interest in the Neutral Zone separating Iraq and Saudi Arabia that