Iraq’s parliamentary advisory committee will present its Integrated National Energy Strategy (INES) plan for the country’s oil and gas sector in April.
The INES plan has been developed since 2010 with financing and technical advice from the World Bank and US consultants Booz & Co, according to Thamir Ghadban, chairman, prime minister’s advisers committee, speaking at MEED’s Iraq Energy Projects Conference 2013 in Dubai on 25 March.
The plan will be shown to parliament and the Iraq public in April, setting out the objectives for the sector, as well as plans for economic diversification and legislative reform.
It sets out three production scenarios, ranging from 13 million barrels a day (b/d) by 2017, to a low level of 6 million b/d by 2025.
By the end of 2014, Ghadban hopes Iraqi production will have hit 4.5 million b/d, from around 3 million b/d currently. At this point, the Oil Ministry will decide on which of the scenarios to pursue.
The INES plan “will set Iraq’s production levels to optimise the interplay between reservoir conditions, Field management best practices, long term production potential, project economics and world market dynamics”, says Ghadban.