Iraq remains Gulf’s third-largest project market with $358 billion
Meed, 11 March 2016
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.
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.