|By PR Newswire||
|April 2, 2014 02:30 AM EDT||
DUBLIN, April 2, 2014 /PRNewswire/ --
Dublin - Research and Markets (http://www.researchandmarkets.com/research/k4b6wm/iraq_and) has announced the addition of the "Iraq and Kurdistan: Drilling & Oilfield Services Market" report to their offering.
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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.
Why purchase the Iraq and Kurdistan: Drilling & Oilfield Services Market Report?
The report is a valuable source of information for those looking for a detailed and extensively researched view on the real size of the opportunity presented by the Iraq and Kurdistan markets. The report is essential reading for operators, oilfield service providers, drilling contractors, equipment manufacturers, financial institutions and advisors who need to understand the supply/demand balance related to the production forecasts.
The high growth and constrained growth scenarios allow for market sizing and client identification which is necessary for companies in the drilling and associated equipment and service sectors.
The information in the report provides a strong platform on which to make investment decisions.
Key Topics Covered:
1 Summary & Conclusions
3 Oil Sector Overview
4 Market Players
5 Expenditure Forecast
For more information visit http://www.researchandmarkets.com/research/k4b6wm/iraq_and
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets