Iraqi Crude Oil Production Set to Increase in 2016

Iraqi crude oil production is set to increase this year, according to independent oil and gas consultant Rystad Energy.

Analysis shows that output levels in the country are expected to exhibit similar growth as in 2015, when production was up by12 percent compared to 2014. Rystad has warned however that from 2017, the output growth rate in Iraq will slow down to an average year-on-year increase of four percent.

The slowdown will take place due to the fact that “the first phase of the redevelopment of mature oil fields has now been completed”, according to Rystad.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  TRACE Secures INPEX Deal, Creates Jobs (Jun 23)
 -  What Are the Qualifications to Become ... (Jun 23)
 -  SolstadFarstad Emerges After Company M... (Jun 22)
 -  Gas Leak at Gjoa (Jun 22)
 -  Total Energy Services Completes Savann... (Jun 21)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Contracts Administration|Planner / Scheduler|Project Management
Location: Henderson, CO
 
Project Manager (Subs)
Expertise: Project Management
Location: Bremerton, WA
 
Senior Accountant
Expertise: Accounting|Asset Management
Location: Tulsa, OK
 
search for more jobs

Brent Crude Oil : $45.54/BBL 0.70%
Light Crude Oil : $43.01/BBL 0.63%
Natural Gas : $2.929/MMBtu 1.34%
Updated in last 24 hours