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Dear all,
OIP's site has just published the REPORT OF THE GROUP OF UNITED NATIONS
EXPERTS ESTABLISHED PURSUANT TO PARAGRAPH 30 OF THE SECURITY COUNCIL
RESOLUTION 1284 (2000). Here are the MAIN CONCLUSIONS:
The lamentable state of the Iraqi Oil Industry has not improved.
The level of oil exports during phase 7 will decline from the level
of 2.2 million barrels per day achieved in phase 6, to a level of between
1.8 to 1.9 million barrels per day.
A further production decline of between 5+ACU- to 15+ACU- per annum is
forecast unless the delivery of spare parts and equipment is immediately
accelerated.
The oil transportation infra-structure has not been improved during
the last two years.
Insufficient spare parts and equipment have arrived in time to
sustain production.
The issues of pollution and safety have not been addressed.
An alternative investment strategy for optimising production, by
applying modern recovery techniques such as horizontal drilling, is
recommended.
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