Posted on 23 June 2012.
The KRG’s oil minister, Ashti Hawrami, told CWC‘s Iraq Petroleum 2012 conference in London that crude oil production capacity in the Kurdistan region is 300,000 barrels a day, and is expected to hit 400,000 barrels a day by the end of next year.
Production capacity is expected to increase further to 1 million barrels a day by the end of 2015 and 2 million barrels a day in 2019.
Kurdistan is not currently using its full capacity as it has suspended exports via Baghdad’s pipeline to Turkey because of the dispute over oil payments.
Between 40 and 50 international oil companies are currently working in Kurdistan.