October 22, 2012

IEA Iraq Oil Outlook

The International Energy Agency has an Iraq Energy Outlook, that projects Iraq oil production out to 2035. (142 pages)

Iraq could double its production by the end of the decade, reaching 6.1 million barrels a day by 2020 from the 3 million barrels it currently turns out.

The country, currently the third-largest oil exporter, could top 8.3 million barrels by 2035, making it “by far the largest contributor to global supply growth,” according to the report.

The country will need more than $530 billion in investments to meet the forecast levels for oil, gas and power supply through 2035. That’s $25 billion a year in this decade alone, according to the report. Iraq received $9 billion in energy funding last year

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