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Iraqi Oil Projects Could Double Production in Coming Years

OIL
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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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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.