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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: BigBull who wrote (58652)1/18/2000 9:28:00 PM
From: Tomas  Read Replies (1) of 95453
 
RE: Iraq's oil production
Iraqi oil output is at full capacity under the current condition of the country's oil industry. Considering Iraq's infrastructure constraints, it's hard to see how they could produce and export more oil.

Iraq's continued overproduction from wells without sufficient maintenance has led to approximately 20 percent of them being irreparably damaged.

A water injection program, which was assisted by treatment chemicals, increased production in Iraq's southern oil fields by 160,0000 barrels per day between August 1998 and May 1999. This technique produces a short-term jump in the rate of production of oil but a long-term deterioration in the total volume recovered.
A total of 54 wells have "watered-out" in the south since mid-1998 and are unlikely to be revived.
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