Reserves replacement is to be taken seriously from a strategic planning point of view. As the country has embarked on a substantial program to build up Iraq’s crude oil and gas production capacity in cooperation with international oil companies, the fifteen oil fields to be developed and produced in accordance with the twelve contracts contain some 100 billion barrels of proven reserves based on the reserves revision released by the…
Tag: reserves
Iraq’s Future Oil Production
Peter Wells: “Iraq’s Future Oil Production: Practical Issues, Pace and Sustainability” Presentation to “Iraq Petroleum 2010” conference, London 29 November 2010
What’s Behind Iraq’s Reserves Revision
While one cannot exclude strategic motive to announce the reserves increase at this time, there is certainly room for doing so. Let us hope that the MoO is embarking on a policy of enlightening the industry, the public and the concerned Iraqi technocrats. The MoO statement while informative to the public, it is short of the necessary elaboration to be more meaningful to the oil technocrats. However, in my opinion Iraq oil reserves, as the…
The Rush for Oil
The Rush for Oil: Iraq’s Oil Capacity Potential and Regional Geopolitics – MEES Op-Ed Nov.9-2009