Ministry of Oil announced that Iraqi oil reserves reached to 150 billion barrels, with an increase of about 10 billion.
Spokesman Asim Jihad, quoted oil minister Abdul Karim Laibi in his statement to AFP news agency, added that the increase was achieved by the new oil bids in the past two years.
Earlier statistics noted that Iraq owns third oil reserves in the world, with a quantity of 143 billion barrels, after Saudi Arabia and Iran.
Iraq managed to sign contracts with international oil companies to enhance its role as one of the main oil exporters.
It produces, now, more than 3.15 million b/d, out of which 2.5 million b/d to be exported, according to figures published by Iraqi oil ministry.
Iraqi oil revenues for 2012 reached to $94.03 billion, with an increase of 13% of 2011.