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.
WHAT DO YOU THINK?
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.