Iraqi oil­­-1: Production now a fraction of potential

09/05/2005
Studies attempting to quantify Iraq’s oil reserves potential have in the past varied widely.The Organization of Arab Petroleum Exporting Countries, in a study published by Abdulatif al-Zarouk and Bouys in 1983, estimated reserves to be 19.5 billion bbl. However, C.D. Masters and his US Geological Survey team the same year put them at 56 billion bbl, which they reduced in 1993 to 35 billion bbl.In 1994, using an empirical mathematical method, this author estimated Iraq’s total reserves potential to be more than 280 billion bbl from oil that could result from the drilling of more than 400 unexplored structures.Petrolog and Associates, in a joint venture with London-based Centre ...
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