Originally posted on AOL Energy
One of the most important medium-term global oil market factors will be Iraq's production capacity build out and output volumes. The country has the potential to be the largest source of incremental global oil market supply in the coming years, but this outcome hinges on a complex web of factors that will be discussed at the 4th Iraq Oil and Gas Summit to be held in Houston this September.
And while Iraqi oil developments monopolize most of the headlines, the country's critically important natural gas industry often flies under the radar. However, gas will increasingly be needed to fire electrical power plants as Iraq's population increases and requires air conditioning, gas-intensive industry jobs, desalinated water and more.
At the same time, natural gas is needed to maintain pressure at producing oil fields and help coax the remaining crude from fields experiencing natural output decline rates, so valuable oil can be exported. Baghdad's fiscal requirements are heavily dependent on oil revenue. All this means the country will need enormous volumes of natural gas developed at great expense by companies that are often more attracted to developing oil.
These topics along with the technical details required to navigate Iraq's challenging investment climate will be discussed at the summit. Specifically, the following topics will be covered:
- The Present Iraqi Organizational Structure and The Role of Government through the Ministry of Oil
- Investing in Iraq
- Prospects for Investments and Projects in the Iraqi Hydrocarbon Sector
- Iraq Petroleum Contracts and Licensing Regulations
- Challenges Facing Iraq's Crude Oil Production Industry
- The Future of the Iraqi Oil and Gas Industry
- Downstream Development Strategies
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