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

18 May 2017

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18 May 2017

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

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.

Executive summary
Southern Iraq oil production growth
Constraints on oil production growth
- Commercial
  - 1. Technical service contract
  - 2. Crude oil marketing
- Technical
  - 3. Oil transportation
  - 4. Water supply for reservoir injection
  - 5. Field processing facilities
  - 6. Rigs and drilling
  - 7. Gas utilisation
- Political and Security
  - 8. Bureaucracy
  - 9. OPEC
  - 10. Security/IS militants
  - The next phase of production growth

Tables and charts

This report includes 7 images and tables including:

Plateau production target for Iraq's southern TSCs
Oil production by southern TSC
2017 oil production for Iraq's southern TSCs

2017 incremental production
2017 progress to plateau production target (PPT)
Central processing facilities
Oil production scenarios for the southern TSCs

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