Gas and petroleum industry in Iraq: projects for after-embargo

Before the gulf war during 1990/1991, the Iraq petroleum production was 3.14 millions of barrels by day and its production capacity 3.5 millions of barrels by day. Exports were 2.78 millions barrels by day. Because of destruction, capacity decreased. But, with re-building, capacity increased until 2.6 Mb/day and exports until 3.5 Mb/day. New reserves were explored and 35 deposits were discovered. Iraq reserves represent 14% of OPEC reserves and 11% of world reserves. Only 15 deposits among 73 petroleum deposits are actually operating. It is envisaged to negotiate with foreign societies to share production after embargo will be removed