Gas at the heart of Iraq’s transition
While oil has grabbed the headlines for Iraq, tapping its gas potential could transform the country’s economic fortunes
Iraq is a global oil giant, home to c.144bn bl of recoverable reserves, based on a conservative recovery factor of 17-29pc. But it also has the potential to be a gas player of international significance if it can overcome challenges to unlocking this opportunity. Given it provides more than 90pc of government funding, it is no surprise that the export of the vast majority of Iraq’s c.5mn bl/d of oil production attracts greater attention. It is also entirely understandable—with this budget centrality—that Baghdad has ambitions to increase output to 8mn bl/d by 2027. There remain large swathes of the country that are underexplored. And the government is recalculating its recoverable reserve fi
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised