DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/m75cj5/iraq_and) has announced the addition of the "Iraq and Kurdistan: Drilling & Oilfield Services Market" report to their offering.
The potential scale of the Iraqi oil & gas sector is unprecedented in modern times and could offer a major opportunity for the drilling and the oilfield service industry. However, the limited historical data of commercial operations in Iraq, coupled with undefined national and federal oil & gas law and the varying announcements about production forecasts make accessing realistic data and an independent view of the market extremely difficult.
Iraq's proven oil reserves rank it in the top five globally and it is already one of the top ten oil producers, accounting for 2.6 million barrels per day (mmbpd) in 2011.
Government production targets are very high, at 12mmbpd by 2020, and require unprecedented growth in drilling activity; needing over 2,700 wells to be drilled to 2016. This report suggests a more conservative scenario which would see oil production increasing to 5mmbpd by 2016 in Iraq and 1mmbpd in Kurdistan. This is a service-industry capacity-based view of production, although it does include potential restrictions imposed by OPEC. However, the scale of opportunity under our constrained production scenario is still high with more than 1,000 wells required up to 2016.
This report considers prospects for drilling and associated services in Iraq and the semi-autonomous region of Kurdistan through to 2016 and gives a market and sector overview and analysis of key players. Expenditure forecasts are based on high growth (the political view) and constrained growth scenarios.
This publication is the first of its kind, as it provides a realistic view of the real opportunity presented in Iraq and the services necessary to achieve this by analysing industry supply capacity and well production costs. This report is valuable for any company with exposure to the Iraq market or those considering making an investment in the market. The report contains the following chapters:
- Background - an overview of the country, its macro-economic situation, political governance, licensing rounds and federal oil law.
- Oil Sector - an overview of historic oil production, current status and production profiles, current infrastructure and future infrastructure (short, medium and long-term).
- Market Players - key groups detailed by operators, oilfield service providers, drilling contractors (including rig market analysis) and equipment manufacturers and specialist suppliers, including an overview and comparison of production agreements in Iraq and Kurdistan.
- Expenditure Forecast - detailed by production & drilling, supply & demand, operator & category through to 2016. Based on the supply of land rigs and demand for drilling services, modelled on two production expansion scenarios:
- High growth scenario - based on production targets as stated by the Iraq Federal Government.
- Constrained growth scenario - based on a production forecast which considers the combination of limitations; including rig supply constraints, lack of infrastructure and supply chain capacity.
Key Topics Covered:
Summary & Conclusions
Oil Sector Overview
List of Figures and Tables:
For more information visit http://www.researchandmarkets.com/research/m75cj5/iraq_and
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