Iraq's oil and gas sector projects top $90bn
In January 2016 Iraq exported an average of 3.88mn bpd, including exports from Kurdistan
Iraq remains the Gulf’s third-largest project market with $358bn in active infrastructure projects, out of which more than $90bn are in the gas, oil, and power sectors, according to experts.
Over the past three years Iraqi oil exports have shown incredible resilience, hitting new highs as upstream energy sector projects increased the country’s capacity to produce and transport crude, said the project-tracking service MEED Projects ahead of the MEED Iraq Energy Projects conference taking place on March 21 in Dubai, UAE.
In January 2016 Iraq exported an average of 3.88mn barrels per day (bpd), including exports from Kurdistan. This is 660,000 bpd more than it was exporting the first half of 2014.
Ongoing infrastructure projects could well see Iraqi exports rise beyond 4mn bpd over 2016, but this increase is by no means certain, MEED said.