Iraq is eyeing a total production capacity target of 9-10 million b/d by 2017, Deputy Prime Minister for Energy Hussain al-Shahristani told Platts in an interview Sunday. While the potential figure would represent a drop in the country's overall target, it would still require an aggressive expansion timeline.

Shahristani -- the architect of Iraq's post-2003 oil industry -- said the new target is based on analysis by the oil ministry, consultants and the companies involved.

"From Iraq's point of view, to maximize its recovery, that kind of overall level seems to be reasonable and many companies find themselves also at levels lower than the plateau, lower than was contracted for," he said.

The oil ministry has since 2009 awarded 11 long-term technical service contracts to foreign oil companies and consortiums to develop or further developIraq's major oil fields in the south. At the time of the awards,Iraq had set a target of raising production to a plateau of 12.5 million b/d from these fields from 2.4 million b/d at the time.





Soran Ali