Iraq will be producing 10 million barrels of oil per day in 2017
BAGHDAD / JD / .. newspaper International Herald Tribune reported that Iraq will produce 10 million barrels of oil per day by 2017,
the newspaper said in its report: Despite the violence and political conflicts taking place from time to time in Iraq, but the production of oil steadily increases to a a glimmer of hope for the future of the state and a breakthrough for global oil markets at a time of stress when the West sanctions on Iranian exports.
and produced excess flow and the work of port development vital leap to the exports of this year, 20% to 2.5 million barrels of oil a day, making Iraq one of the most important exporters in the Organization “OPEC” for the first time.
said energy analysts that increase production of Iraq accompanied by an increase of production in Saudi Arabia and the approaching recovery in the oil industry in Libya, will protect the most likely oil markets from higher prices and ensure that the international community more power to Iran while doing new sanctions in July
said David Goldwyn, coordinator of the Ministry of Foreign Affairs, former international energy affairs in the administration of U.S. President Barack Obama: “Iraq is a supporter too,” Even if Iraq did not increase exports its oil only half of what is planned by next year, according to Goldwyn, it will make up for what Nearly half of the supply Iran next stop as a result of sanctions.
The recovery of oil, which is pumping already productive at rates not seen only once for a period short since the Saddam Hussein to power in 1979, is vital in order to verify Iraq’s success after the war, where oil accounts for more than 95 % of government revenue and allows the construction of roads and increased social services and strengthen the hands of the government. However, the oil came also some of the difficulties faced by the fledgling democracy through that provided avenues for corruption and cronyism, and what has been tensions with the Kurdish minority in the north on the division of profits is the issue of disabling warning of the break state.
The Iraqi government said that in a position to produce 400 thousand barrels of oil per day again by next year, and declared that its objective the production of 10 million barrels of oil per day by 2017, making it compete with Saudi Arabia.
not say only a few independent analysts that they are convinced that this objective is huge and unrealistic, but the executives of oil companies Menbhron the progress of Iraq and his ambition.
said Michael Tawanhand , President of the “BBC Iraq”: “What the government aims to increase the production of massive under all these circumstances is something unique in the world.” However, he warned, and said: “One does not succeed so far in increasing oil production in the state primarily planned by Iraq. It is very ambitious and will require a lot of things to work properly. ” The increased production of Iraqi oil at an appropriate time fully to compensate for the diminished production of Iran’s oil, which according to the “OPEC” fell by 12% during the first three months of this year, given that both India and China and other Asian countries decreased gradually from its purchases of oil under pressure United States and Europe.
may raise Iraq’s role in promoting the effects of sanctions against Iran in the oil market tensions with Tehran, which is a helper strong ally of the Iraqi government, but oil experts say that exports are important for Iraq too big to allow to its relationship with Iran that hinder production. And began to recover Iraq’s oil industry after decades of wars, sanctions and neglect in 2009 and 2010, with improved security and the signing of Baghdad, a series of contracts for technical services with foreign companies, such as “Exxon Mobil” and “BP” and the China National Petroleum Corporation and the “ENI”, Italy. And brought Equipment Companies measure seismic modern methods of extracting oil modern capable of reviving old oil fields.
produces Iraq about three million barrels of oil a day does not believe only a few analysts that it was able reach its target production of 10 million barrels of oil per day by 2017, a goal lowered Baghdad recently 12 million barrels per day by that year. However, the head of Hans Nejkamb Shell Iraq is estimated that in Iraq, able to produce 6 million barrel to 10 million barrels per day by early next decade, which is considered a major target. The international executives in the oil that government bureaucracy is still slow and low coordination in building a new port and pipeline infrastructure essential to the delivery of oil to oil tankers from the fields. And shift the political battle on the division of profits without activating the oil law and national means that companies should follow a different set and massive regulations, some dating back to the era of the Ottoman Empire, and a severe shortage of electricity politicians to choose between service oil companies or the civilian population restless who want more services, benefits relying on it.
and there were some problems in the auction of oil and natural gas recently, the fourth session of the auction in the country after the war. He states that did not shield only three decades of in total 12 contracts offered at auction. The disappointing auction less a reflection of the lack of interest in the energy sector of the Iraqi difficult conditions imposed by the government and the sites of some of the fields in remote and dangerous areas of the country, and the fact that many of the sectors were presented for natural gas at least attractive to foreign companies from the oil. Despite the uncertainties of foreign companies that it says that just will not leave. Said Claudio Descalza, director of operations, exploration and production in the “ENI”, “We are in Iraq because we believe that there are great opportunities and tremendous production growth is expected in the future to improve things a lot.”