Should Iraq increase its oil production to 12-million barrels per day?
The production targets of international oil companies in Iraq are currently the subject of much debate in the industry. Claire Pallen, programme director of Iraq Future Energy 2010, a top meeting of oil executives and Iraqi energy regulators in Istanbul from 27-28 September, says “with current production levels fluctuating under 2.5 million barrels per day, it is officially stated that by 2017, Iraq will be producing 12 million barrels per day.
Some believe the timetable for Iraq’s expansion plans are highly ambitious whilst others believe it to be a realistic and accurate assessment of the country’s capabilities. Of course, with the anticipated expansion come the implications of Iraq’s OPEC quota and a possible shift in regional balances.”
The Armchair Debate between two Iraqi oil industry stalwarts, Dr Ali Hussain and Mr Ahmed Mousa Jiyad, on the issue of increasing Iraq’s oil production to 12-million bpd promises to be a highlight of Iraq Future Energy 2010. Dr Ali Hussain, an independent oil consultant, is in favour of an increase while Mr Ahmed Mousa Jiyad, an Iraq development consultant, is a challenger.
Exploring Iraq’s rich oil fields
The exploration of Iraq’s rich oil and gas fields will also be discussed during the following sessions:
•Iraq’s Oil and Gas Master Development Plan •Iraq’s Rumaila oilfield•Foreign involvement and investment, policy updates, regulations and licensing•Security and infrastructure: spotlight on supply and production•Exploration and production opportunities and challenges•Downstream opportunities and challenges
High-level speakers at Iraq Future Energy 2010 include:
•His Excellency Thamir Al Ghadhban, Chairman, Advisory Committee to the Prime Minister of Iraq, Former Oil Minister•Michael Townshend, President Iraq, BP•Dr Abdul Hadi Al Hassani, Vice Chairman, Oil and Gas Committee, Iraqi Parliament•Baroness Nicholson of Winterbourne, Executive Chairman, IBBC (Iraq Britain Business Council)•Mounir Bouaziz, Vice President Commercial, New Business, LNG, Middle East and North Africa, Shell EP International