Sporter
07-14-2006, 04:16 PM
IEA: Iraq is '90 percent unexplored for oil'
14 July 2006 (Turkish Daily News)
Only 10 percent of Iraq has been explored for oil and 60 percent of proven reserves are in undeveloped fields, the International Energy Agency (IEA) said in a report that assessed the opportunities for development in the country.
However, ongoing security concerns, corruption, sabotage and political uncertainty make a government output target of 4.0 million barrels per day by 2010 "appear optimistic," the agency warned.
The comments were contained in a report on the medium-term outlook for the oil industry, which included a section on the Iraqi industry.
The IEA said its forecast for Iraqi production capacity for the five years to 2011 was an average 2.5 million barrels per day (mbd), only slightly higher than current levels of 2.0 mbd and below the government target of 4.0 mbd.
"Hypothetically, there seems the potential for capacity to reach levels between ...
http://www.turkishdailynews.com.tr/article.php?enewsid=48802
14 July 2006 (Turkish Daily News)
Only 10 percent of Iraq has been explored for oil and 60 percent of proven reserves are in undeveloped fields, the International Energy Agency (IEA) said in a report that assessed the opportunities for development in the country.
However, ongoing security concerns, corruption, sabotage and political uncertainty make a government output target of 4.0 million barrels per day by 2010 "appear optimistic," the agency warned.
The comments were contained in a report on the medium-term outlook for the oil industry, which included a section on the Iraqi industry.
The IEA said its forecast for Iraqi production capacity for the five years to 2011 was an average 2.5 million barrels per day (mbd), only slightly higher than current levels of 2.0 mbd and below the government target of 4.0 mbd.
"Hypothetically, there seems the potential for capacity to reach levels between ...
http://www.turkishdailynews.com.tr/article.php?enewsid=48802