Investment needed to unlock Iraq's oil, gas potential

Iraq's massive oil and gas reserve potential ultimately could reach 330 billion bbl of oil and 324 tscf of gas, said UK-based investment analysts Bayphase Ltd. in a recent report.Iraq also offers equally substantial investment opportunities. "An estimated $100-150 billion worth of investment is required in Iraq's oil and gas and infrastructure sectors to enable some of this potential to be unlocked" in the upstream, midstream, and downstream sectors, the firm reported."Iraq's oil and gas industry since nationalization in 1975 has suffered from a severe lack of investment and technology integration because of inadequate management, isolation, and lack of central funding due to ...

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