By the year of 2014, Iraq is targeting oil production capacity of 4.5 million b/d, which is a part of a long term strategy, eyeing on a mammoth oil production by the year of 2025.
Thamir Ghadban, chairman of the prime minister's adviser’s commission stated that optimum production capacity to 2020 and beyond will definitely be achieved by the country.
Ghadban claimed that they are delving more to find the best suitable option for Iraq, in terms of plateau production. The first scenario among the three is – a high production plateau of 13 million b/d as outlined in the long-term service contracts awarded to foreign oil companies by 2017. The second one is – a slower level of 6 million b/d to be reached by 2025. And last but not the least, third scenario is – an "in between" scenario of 9 million b/d to be achieved by 2020.
Platts
29 March
