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