"We have enough storage until we repair these pipelines. We will bypass the oil pumping operations through another pipeline network until repairs are done," spokesman Asim Jihad said.
It will take no more than a week to repair the damage done to the pipelines, he said.
Three bombs hit a pipeline network that transports crude from southern Iraqi oilfields to storage tanks around the oil hub of Basra, causing a fire that raged all night.
Iraqi officials said the blaze had been put out on Wednesday morning, but an oil police source later said strong winds had reignited the fire.
An industry source said international oil companies working in the southern oilfields had been asked to reduce production after the attack, but was not sure if this was a precautionary measure or because of damage to the pipelines.
The companies will look at ways of bypassing the damaged sections of pipeline if necessary, the source said.
