In the next ten years, Majnoon and its sister field Rumaila are expected to keep expanding production and between them have tens of billions of barrels of reserves.
Nijkamp spoke on an impressive panel with Genel Energy CEO Tony Hayward, Foster Wheeler Energy CEO Filipo Abba and Commercial Manager for BP Iraq Mike Wenham. Critically, the panel were asked how they felt about the team PM Hayder al-Abadi had put together, with the Islamic Supreme Council of Iraq’s Adel Abdul Mahdi at the helm of the Ministry of Oil. All were positive, with Nijkamp noting he was “hugely encouraged by the whole team”.
So there you have it: Iraq today is a story of adversity, hope and opportunity. The next few years will present many challenges, but for the first time in decades Iraq appears to be developing a national level strategy to overcome them. And with that will come more business opportunity.
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