Despite its huge oil resources, Iraq’s practical readiness to hit its 7 million barrels per day (bpf) oil production target (by 2025) came into question again last week, with statements from the developers of two of its major fields – BP in Rumaila, and Japan Petroleum Exploration (Japex) in Gharraf – that achieving higher output from their respective developments is not as straightforward as it might appear. Although Iraq could be producing at least 9 million bpd with ease by now – even 12 million bpd – if it were not for the investment and corollary infrastructure constraints that have resulted from the endemic corruption across the country, its ability to attain the 7 million bpd target looks also looks far from certain in the current circumstances. In the case of Rumaila – which lies around 30 kilometres north of Iraq’s southern border with Kuwait and which, together with […]