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Iraqi Oil Projects Could Double Production in Coming Years

OIL

Large oil projects are expected to nearly double Iraq’s crude production in the next few years to around 8mn bpd according to an Iraqi deputy.

  • “Iraq has an ambition to increase its oil production capacity to around 8 mmb/d in the next few years through large development projects,” Zainab Musawi a member of Parliament’s Oil and Gas Committee said to Al-Forat.
  • Recent contracts awarded to foreign companies this month are expected to add 250,000 bpd.
  • Iraq’s current output is around 4.23 mmb/d.
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