International Energy Agency expects an increase in OPEC production contribution of Iraq
11/11/2011 19:31

Erbil, November 11 / October (Rn) - The International Energy Agency in a report released recently that the production of OPEC's oil and gas will rise in the coming years, indicating that the largest contribution will be in the high production of Iraq three times from 2.5 million barrels per day to 7.7 million barrels per day by 2017.

The agency in its periodic report on expectations that OPEC countries will achieve an increase in production of 2.9 million barrels per day over the medium term, from 23.8 million barrels in 2010 to 26.7 million in 2015 and up to 36 million barrels per day in 2035 .

And this will increase production of oil and non-traditional forms of liquid natural gas, according to what I wanted and the agency (Aji), which dealt with the Italian report.

In the event of such an increase will increase the proportion of OPEC in world production from 42 percent in 2010 to 51 percent in 2035.

The report pointed out that the largest contribution will be in high production for Iraq, which will triple from 2.5 million barrels per day to 7.7 million is considered in all cases a good result but differed significantly from the Iraqi government's goal ambitious, but achievable, perhaps, any producing 12 million barrels per day in 2017.

The report said that Iraq has great potential but a lot depends on the process of consolidating peace and stability in the country, which also comes in the framework to resolve the dispute over contracts signed by the Kurdistan Regional Government.