Companies & Finance

Iraq will miss output targets if local capability dearth ignored

Iraq may struggle to hit its ambitious five-year oil and gas production targets as ageing equipment, lack of skilled local personnel and inadequate training institutions limit the country’s capabilities.
By Leigh Elston 17 April 2012 0 9107

Iraq may struggle to hit its ambitious five-year oil and gas production targets as ageing equipment, a lack of skilled local personnel and inadequate training institutions limit the country’s capabilities.

Baghdad is aiming for gas production of 198 million cubic metres (MMcm) by 2017 and oil output of 12 million barrels per day based on the awards in the first, second and third licensing rounds, but the capacity of the local workforce is not fit for “the mammoth target set by the ministry of oil”, Luay...