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)