Related Articles
Forward article link
Share PDF with colleagues

Unlocking southern Iraq’s oil

Baghdad’s revisiting on contractual terms may need to be radical to stop IOC flight and offer alternatives to China

Southern Iraq is home to some of the world’s largest oilfields. Combined with a low cost of extraction, it is easy to see why the country places behind only Saudi Arabia as Opec’s second-largest oil producer. But taking advantage of significant remaining growth potential is a much trickier proposition and may require short-term concessions for longer-term gain. Reserves According to Opec data, Iraq has total oil reserves of 145bn bl, with the majority located in the south of the country. There is also believed to be significant upside potential pending further exploration. Roughly 85bn bl are conveniently spread across south-eastern supergiant fields including Majnoon, Rumaila, West Qurna



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Beijing strives to balance security and decarbonisation
15 October 2021
The ongoing global energy crunch underlines the difficult task facing China’s leaders in balancing energy supply security while reaching net zero in the next 40 years
Occidental exits Ghana
15 October 2021
The US super-indie is divesting its assets in the country
Gran Tierra cranks up the gears
14 October 2021
Midstream takeaway has returned to normal in Colombia, paving the way for production growth opportunities
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video