Iraq is forging ahead in developing its energy resources to take its place on the international scene as a major supplier of world oil and gas. Since the major opening of its oil and gas sector in 2009 and the award of technical service contracts to the world’s leading international oil companies, it has made major strides in oil field development and infrastructure expansion, hitting new records in oil production and exports with the aim of ensuring its status as a secure supplier of energy to the world. Despite a difficult year in 2015, due to the world’s financial crunch, Iraq is on target to achieve its goals. The third SPE symposium on Iraq will address this particular aspect and focus on Iraq’s potentiality and the future of energy.

Following two successful events in 2012 and 2014 which focused on the early experiences in field development, the third symposium will detail Iraq’s vision of future developments following six years of achievements since the service contracts were awarded, including future targets for oil and gas exploration, oil production and exports, potential for development of new cross border fields and downstream major projects.

The sessions will address specific issues related to ongoing projects including the investment and the economics of achieving the future vision such as development costs and oil prices, challenges in financing new projects, tax and duties, capturing and utilising gas under existing gas agreements, as well as the aspiration to introduce a legal framework that governs the energy sector in all its aspects in addition to the role and responsibilities of the local governments to support the petroleum industry. Attendees will also hear from IOCs and services providers on the requirements and challenges to achieving the Iraq vision, as well as the role of technology in delivering this vision.