7 July 2005 Regardless of its official name, Iraq Oil Exploration Co. (IOEC) has done little in the way of exploration for the past 15 years — and is unlikely to start exploring the country’s vast areas anytime soon, in the absence of seismic equipment and trained staff. However, since the collapse of the Baath regime in 2003, the company has been focusing on building a modern National Data Center…
Tag: sanctions
Despite Crisis, Iraq Outlines Grand Oil Plan
21 February 2003 Unfazed by the prospect of an imminent war, Iraqi oil officials are forging ahead with a 10-year plan drawn up last year, which aims to bring on stream early oil production from discovered but not-yet-developed fields, as well as launch an ambitious oil and gas exploration program to boost proven reserves. The 10-year plan, which stretches through 2012, aims at almost doubling oil production capacity in the…
Iraq Aims to Hike Capacity by End-2003, Despite Sanctions
10 July 2002 Iraq is aiming to increase its sustainable oil production capacity to 3.5 million barrels per day by the end of 2003, without help from foreign oil companies and assuming that UN sanctions remain in force for the foreseeable future, Iraqi oil ministry sources say. Iraqi Oil Minister Amer Rashid recently put current sustainable production capacity at 3.2 million-3.3 million b/d, although other estimates are lower. Under a…
Solo Efforts
4 July 2002 Iraq is developing its oil fields with or without foreign help — including the giant fields promised to companies such as France’s Total Fina Elf and Russia’s Lukoil. But the firms are always welcome to hop on board, Iraqi Oil Minister Amer Rashid says. Under a “national effort” launched in 1999, Iraq brought the giant southern Majnoon oil field on stream last year, Rashid says. The field…