Oil reconstruction in Iraq: progress and challenges

The Iraqi oil industry, with the world’s second largest conventional crude oil reserves, is the most critical link to reestablishing the country as a major economy in the Persian Gulf. Currently, oil exports provide over 95% of revenue for the Iraqi government and are key to the successful funding of all ministries providing essential services to the Iraqi people.The US has been actively involved in rehabilitation and construction of oil and gas facilities throughout Iraq since the initial Restore Iraq Oil (RIO) contract was issued to the US Army Corps of Engineers (USACE) in March 2003. Rehabilitation projects were later transferred to the US Army’s Project and Contracting Of...

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