IRAQ PUTS ON A SHOW
OPEC Bulletin magazine mentioned in its from event report to the 70 major international oil companies that made trip to Baghdad in December 2008 and took part in the Iraq Energy Expo and Conference (IEEC) to drew the large crowds to invest in one of world’s largest oil reserves.
Russia’s Lukoil, Gazprom Neft and Rosneft, ConocoPhillips of the United States, Japan’s Nippon Oil Exploration, South Korea’s SK Energy, Turkish Petroleum, state-owned giants, such as Indonesia’s PERTAMINA, and many more. Exhibit in the IEEC three days show that organized by Iraqi American Chamber for Commerce and Industry (IACCI) in cooperate with the Iraqi Oil Ministry.
Iraq’s Oil Minister, Dr. Hussain Al-Shahristani, opened the event by announcing an ambitious plan to produce up to six million barrels/day of oil by 2018, compared with about 2.5m b/d now. "I hope this exhibition and conference will make a contribution to fulfilling this objective,” he said.
Within three to four years, from the oil contracts being completed by the end of 2009, Iraq’s oil production could increase by up to 2.5 million barrels/day, almost equivalent to the country’s output today. Much of the interest for this oil development was on show at Iraq’s first postwar energy expo. Held at the Baghdad International Airport Convention Centre, the event went a long way in boosting the standing of the country’s oil industry and attracting prospective partners. Dr. Hussain Al-Sahristani said to The “OPEC Bulletin” magazine.