Remember Iraq's 12 million b/d oil production target? In 2009 to much fanfare Iraq opened up its giant and super giant fields to international investment. It attracted competitive bids from many of the world s most capable operators. Iraq undoubtedly has the large scale low cost oil resources in its southern fields to underpin production of over 10 million b/d. But the harsh technical service contract terms and a myriad of technical political and security factors have all conspired to subdue growth.