BAGHDAD: Iraq remains the Gulf’s third-largest project market with $358bn in active infrastructure projects, out of which more than $90 billion are in the gas, oil, and power sectors, according to experts.
Over the past three years Iraqi oil exports have shown incredible resilience, hitting new highs as upstream energy sector projects increased the country’s capacity to produce and transport crude, said the project-tracking service Meed Projects ahead of the Meed Iraq Energy Projects conference taking place on March 21 in Dubai, UAE.
In January 2016 Iraq exported an average of 3.88 million barrels a day, including exports from Iraqi Kurdistan. This is 660,000 barrels a day more than it was exporting the first half of 2014. Ongoing infrastructure projects could well see Iraqi exports rise beyond 4 million barrels a day over 2016, but this increase is by no means certain, said Meed. Meed’s Iraq Energy Projects Conference will establish a platform for discussion and encourage insight into the challenges of delivering the ever-increasing energy project portfolio that Iraq has in the pipeline.
Government officials speaking at the Iraq Energy Projects conference include Minister of Electricity Qassim Mohammed Fahdawi and Members of Parliament Adnan Al-Janabi and Dr Majida Abdul Latif Al Tamimi. Iraq’s ambassador to the US Lukman Faily, and Abdulahussein Al-Anbaki, an economic advisor to Prime Minister Haider al-Abadi, are also due to attend.
They will be joined by senior officials from Iraq’s publicly owned South Refineries Company and the State Company for Oil Projects, as well as representatives from Anglo-Dutch Shell and the Basrah Gas Company. The event is being supported by the Iraq Energy Institute. Sponsors of Iraq Energy Projects 2016 are Raiya Group, GE, Weir Oil & Gas, Khudairi Group, Gama Power, Shell Lubricants and Calik Enerji.