Exploring Hydrocarbon Depletion
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Plantagenet wrote:The oil industry in Iraq has never been modernized and little or no modern scientific work has been done utilizing modern geophysical and geological methods for oil exploration. There probably is a great deal of potential there for very significant production increases and perhaps even for the discovery of some major new oil fields.
pstarr wrote:wiki: "30 bn barrels of oil in place" How much of that is recoverable? 70%?, or good for 9 months world consumption
mos6507 wrote:Their natural resources aren't worth anything until they are sold off to the highest bidder. Any other growth industries in Iraq besides roadside bombs and undertakers?
Are they suggesting Manjoon has 30 bbo URR? That's odd, since the EIA says 12.6 bbo.
vampyregirl wrote:The Iraqui Ministry of Oil has awarded Shell and Petronas Carigali a contract for technical assistance in developing the Majnoon field.
Shell is operator of the Development and Service Contract with a 45% share. The Iraqui Ministry of Oil holds a 25% share and Petronas 30%.
The goal is to raise production to 1.8 million bpd, up from the current level of 45k bpd.
Shell looks forward to developing this resource base along with its partners.
A couple of years ago, Iraqi oil production was declining and it didn't seem too likely the country would stabilize any time soon to allow that to change. However, the post-surge stabilization of Iraq has now allowed Iraqi oil production to start creeping up, and in 2009 the Iraqi oil ministry has announced large numbers of contracts with major oil companies to bring production up from the current 2.5mbd or so to 12 mbd over the course of the next 6-7 years. It is also announcing a series of projects to increase the physical export capacity of the country in line with these oil production projects.
Poordogabone wrote:who is behind the purge of academics and scientists since the "war" began in Iraq ? we did send a country that had the best educational system among arab nations back midway to the stone age, between 2 wars and 10 years of sanctions. So let's give a big pat on our collective back, mission accomplished, it looks indeed like oil will be their sole
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