KRG Poised For Another Bumper Oil Year In 2019

Iraqi Kurdistan’s oil sector overcame immense challenges in 2018. It countered expectations to boost production by some 90,000 b/d, ending the year at around 420,000 b/d. Despite the loss of around 280,000 b/d production from the Bai Hassan and Avana Dome to federal forces in October 2017 ( MEES, 20 October 2017 ), regularity of payments to foreign firms was arguably improved on previous years ( MEES, 15 June 2018 ).

The KRG will continue to reap the rewards in 2019 and could push back up towards 500,000 b/d. MEES estimates that production will increase by around 50,000 b/d over the course of the year, mostly down to the autonomous region’s foreign operators (see chart). (CONTINUED - 774 WORDS)

DATA INSIDE THIS ARTICLE

chart KRG Set For 50,000 B/D Production Increase By End-2019 ('000 B/D)