LONDON, Jan. 9, 2017 /PRNewswire/ -- Major oilfield expansion projects in Iraq will be an important source of low-cost oil production to meet future demand and growth will continue in 2017. Natural gas imports from Iran starting in 2016 will play a significant role in meeting demand from the power sector, while exports are set from the KRG to Turkey in 2019.
Latest Updates And Key Forecasts
- Over 9M16 oil production in Iraq has averaged 4.323mn b/d, with 3.245mn b/d exported from Basra and 0.469mn b/d from the KRG.
- In November 2016, Iraq released production figures for its major oil fields in the South:
- 1. Rumaila - 1.4mn b/d 2. West Qurna 1 & 2 - 870,000b/d 3. Zubair - 390,000b/d 4. Majnoon - 214,000b/d 5. Halfaya - 2040,00b/d
- DNO is expected to add further wells at the Tawke field, increasing production from 109,000b/d in Q316 to 135,000b/d in 2017.
- The Ministry of Oil is due to offer up 12 small and medium sized fields in central and southern Iraq to international investors.
- Genel is expecting approval of the field development plan for the Miran/Bina Bawi fields, and the prefront end engineering for the midstream facilities to be completed by end 2016.
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