Iraq believes it can boost oil production to 9M bpd by 2018 from 3.25M bpd currently and even...

|By:, SA News Editor

Iraq believes it can boost oil production to 9M bpd by 2018 from 3.25M bpd currently and even exceed 12M bpd, Oil Minister Abdul Kareem Luaiby says. Luaiby reckons reaching that capacity would require investment of $130B-$150B, which "could be shouldered by the foreign companies developing our fields."