Iraq "The Best Place on Earth to find and Produce Oil"

By John Lee.

Petrel Resources has said that its operations in Iraq, which had been dormant for some time, are "once again showing life".

In its Preliminary Results for the Year Ended 31/12/19, the company said:

"Our Iraqi, director, Riadh, is actively promoting our ongoing interest in participating in the development of the many oil opportunities in Iraq. It remains the best place on earth to find and produce oil.

"The political situation is finally stabilising. We have reconnected with people who assisted us between 1999 - 2010 when we were active in the country. Though only a small company, we have a track record in Iraq, we worked there for more than a decade and have a wealth of data on the oil geology of the country.

"We are hopeful that we will get an opportunity to play a part in developing the oil industry."

(Source: Petrel Resources)

One Response to Iraq "The Best Place on Earth to find and Produce Oil"

  1. M W Ibrahim, PhD 19th June 2020 at 12:13 #

    Notwithstanding its’ huge oil and gas reserves, and a century of unorthodox exploration, discoveries, development and oil production record of Iraq due to local and regional wars, sanctions and occupations; but Iraq is still in the structural exploration stage and has not evolved through the stratigraphic, combination and hydrodynamic exploration stages. Hence, when several oil companies abandoned their new-venture projects in Iraq (e.g. Majnoon Supergiant Oilfield by Shell), such actions calls for re-evaluation of the risks and rewards of exploration and field development ventures in Iraq, and scouting of the way forwards for the Iraqi petroleum industry through fallouts of COVID-19 pandemic.
    Target Exploration Consultants (the independent organiser of the Iraqi Petroleum Conferences) is inviting abstract submissions to the 5th Iraqi Petroleum Conference (IPC-21), which is to be held on the 15th & 16th of September 2021 at the Imperial College, London, UK. For conference sessions, registration, and sponsoring opportunities, and our back to back 13th Middle East & North Africa Oil and Gas Conference on the 13 & 14 September 2021 at the Imperial College, please visit: http://www.targetexploration.com

    Best regards,
    MW. IBRAHIM, PhD.
    Director and R&D Manager