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10 reasons why Iraq's oil production growth has under-performed

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Report summary

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.

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Table of contents

Tables and charts

This report includes 7 images and tables including:

Images

  • Oil production by southern TSC
  • 2017 oil production for Iraq's southern TSCs
  • 2017 incremental production
  • 2017 progress to plateau production target (PPT)
  • Oil production scenarios for the southern TSCs

Tables

  • Plateau production target for Iraq's southern TSCs
  • Central processing facilities

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