CAROL COSTELLO, CNN ANCHOR: Talk about a big job. There is a new oil minister in Iraq, and it will be his job to get the oil flowing and the money -- that, in spite of antiquated equipment and sabotage. Live to Baghdad and CNN's Jane Arraf. Can he do it?</s>JANE ARRAF, CNN BAGHDAD BUREAU CHIEF: Carol, that is a big question, and it's going to be a big question in Madrid at that Donor Conference coming up this week. Now, Iraq's northern pipeline, which supposedly carries half of its exports to Turkey, has been wracked by sabotage, by looting and just repair problems over 10 years of neglect. Now, over the past couple of weeks,</s>IBRAHIM BAHR AL-ULOOM, IRAQI OIL MINISTER: No doubt sabotage has some effect, but it's not to an extent that will impact our oil production policy. We do have the capability and the alternative ways to manage it, to keep our oil production in the same line.</s>ARRAF: Now, Iraq has the second biggest oil reserves in the world, but its production and exports are running far below that. And industry experts estimate it would take $30 billion to repair things and get new production flowing again. But big oil companies are a bit reluctant to come in here, while the security is still so unsettled and without an elected government to make decisions -- Carol.</s>COSTELLO: Jane Arraf reporting live from Baghdad this morning.
Iraq's Oil Industry Getting Up to Speed