Opec's second biggest oil producer plans 9mn b/d capacity by 2029, double current levels. But burdensome ‘technical service contracts’ have scared off many IOCs, and Baghdad is increasingly turning to its national oil companies for development. Will Iraq’s new government rise to the immense challenges facing the country’s upstream, downstream and powergen sectors?
Crude Output | 4.01 | mn b/d |
Crude Exports | 3.00 | mn b/d |
Crude Export Rev. | 41.8 | $bn |
Gross Gas Output | 2.57 | bn cfd |
*ALL EXCEPT CRUDE OUTPUT EXCLUDE KRG.
8 Mar, 2024
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Iraq says that it can now utilize more than 60% of its 3bn cfd raw gas output. Planned processing additions could theoretically bring an end to routine flaring. But project delays remain an ongoing risk, while gas capture capacity doesn’t always align with producing areas.
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