Iraq has endured yet another turbulent year. But, despite the political maelstrom, the oil and gas sector has seen another year of solid progress in 2019. Federal crude production capacity is above 5mn b/d for the first time ever, refinery output is at record levels, sales gas volumes are also at all time highs, and the award of key contracts is paving the way for continued growth.
On the negative side of the ledger, the long-running saga over awarding a contract for a critical water injection facility in Iraq’s Basra oil heartland shows no sign of being resolved, while storage and export capacity constraints remain a major bottleneck. (CONTINUED - 1028 WORDS)