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§ Iraq will auction off eight giant oil and gas fields on Tuesday in its first major tender since 2003, giving oil firms a foothold in a country that may hold some of the world’s largest untapped energy reserves. Winning firms must pay Iraq $2.6 billion in signature bonuses and cover Iraq’s [...]
According to British Petroleum, the daily oil production in Iraq was 2,145 thousand barrels in 2007; exhibiting a CAGR of 6.3% from 1997 levels of 1,166 thousand barrels. Iraq accounted for 2.7% of the global daily oil production in 2007.
According to British Petroleum, the total proven oil reserves in Iraq in 2007 were 115 billion barrels which have represented a CAGR of 0.2% from 1997 levels of 112.5 billion barrels. Iraq oil reserves accounted for 9.3% of the global oil reserves in 2007.
