Iraq Oil & Gas Industry
The prize is huge. Iraq has proven reserves of 115 billion barrels, the third largest in the world after Saudi Arabia and Iran.
Of the 80 known oilfields, only 15 are developed – between them producing about 2.5 million barrels per day.
Iraq's economy is dominated by the oil sector, which has traditionally provided over 90% of foreign exchange earnings.
The Minister for Oil plans to raise output from 2.5m barrels a day to 4.5m within five years.
Based on the skills gaps identified by the Ministry of Oil, urgent attention will be paid to innovations in training and equipment, new training and education programmes and updated curricula, accreditation, international standards as well as the need for new training and research centers.
Ministry of Oil, Republic of Iraq
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Last Updated: 28-Jul 12:07
