Negotiating Iraq’s Complexities

A spokesman for Iraq’s Ministry of Oil recently told Al Jazeera that unexplored regions of Iraq could yield an additional 100 billion barrels of oil, and that Iraq’s production costs are among the lowest in the world.

Additionally, the report says that only about 2,000 wells have been drilled in Iraq to date, compared with roughly one million wells in Texas alone.

These figures alone give some perspective on the scale of the opportunity facing the country, but as Gavin Jones points out, the political dynamics in Iraq are particularly complicated at the moment, and businesses require a deep understanding of the situation.

Fortunately, as readers of Iraq Businesss News, you will already be well briefed on developments in Iraq; if you need more specific advice on doing business there, you can always contact Gavin Jones at Upper Quartile and Adrian Shaw at AAIB Insurance – Iraq Insurance.

One Response to Negotiating Iraq’s Complexities

  1. Re da Caste January 19, 2012 at 11:58 am #

    These guys, incl. al-Luaibi, should not talk so much and dedicate all their time to ensure the hydrocarbonate law gets unto place ASAP !!!