1 May 2009
Iraq seeks investment to develop its untapped gas potential
With large gasfields included in Iraq's debut upstream licensing rounds, the country aims to make its mark as a gas producer and exporter, reports James Gavin
Iraq's oil-production potential, capable of sustainably producing up to 6m barrels a day (b/d), has understandably absorbed the attentions of international oil companies (IOCs). Yet the country hopes to become a significant natural gas producer and exporter, in a region where rising gas consumption is exceeding available supply. The government's main strategic priority is to stem the steady output decline of maturing oilfields, rather than boost gas supply, and oilfields dominated the country's first open bidding rounds. But the oil ministry knows it must begin developing its gas resources – estimated at over 3 trillion cubic metres by Cedigaz – and four undeveloped gasfields were included i
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