Bid & Tender


Iraq targets 7mn bpd Oil Output Capacity in 2027

Iraq plans to increase its oil production capacity by around 7 million barrels per day in 2027, said head of state-owned oil marketer SOMO Alaa Alyasri.


Iraq's current crude production capacity is close to 5 million barrels per day (bpd), but it produced 4.651mn bpd in October, according to SOMO. This is in line with its production quota under the OPEC+ agreement.


The capacity increase will come from Iraq's giant fields currently undergoing development including Rumaila, managed by a joint venture between BP Plc and PetroChina Co Ltd, as well as from Lukoil's West Qurna 2, Alyasri said.


Related News