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Iraqi minister sees 'big leap' coming in oil production
10/19/2009
Following agreement on two new oil service contracts, Iraq's oil minister said he expects his country to increase its oil production to 10-12 million b/d over the next 6 years from the current 2.5 million b/d."What we expect from the first bid round and what we hope for from the second round is that Iraqi production will be between 10 to 12 million b/d, and this will make Iraq equal to the world's biggest oil producers," said Hussein al-Shahristani, referring to one auction in June and another due in early December.Al-Shahristani's remarks, which made no reference to the need to adjust production quotas set by the Organization of Petroleum Exporting Countries, came as internatio...
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