The Rising Influence of Rising Affluence

[DewDiligence]

Iraq could add 10M boe/d by 2017—maybe:

http://online.wsj.com/article/SB10001424052748704875004575374983987411158.html

Two oil-licensing auctions last year awarded 11 deals to international oil companies. If all the companies live up to their production promises, the projects will add nearly 10 million barrels a day of capacity by 2017 to Iraq's existing output of 2.5 million barrels a day.

Getting to that level, however, will require immense investment by the companies and tricky coordination between the rival firms and the government. One big question is how the players will coordinate to fund and build a massive, shared water-injection system needed to boost field performance in the south of the country.