Posts Tagged ‘sanctions’
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 and is busy reacquiring field data it lost in the postwar chaos, according to an IOEC official.
“During its 40 …
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 first six to seven years, from a current official level of 3.2 million barrels per day to 6 million b/d, …
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 “national effort” program launched in 1999, Iraq brought on stream the giant Majnoon oil field in May. This is currently …