DUBAI, United Arab Emirates, March 4 (UPI) -- Undeveloped infrastructure and pressure from the Organization of the Petroleum Exporting Countries overshadow Iraq's oil production goals, analysts said.
Iraq emerged from its second round of post-war oil auctions in December with goals of rivaling Saudi Arabia in terms of oil production. Baghdad said it could produce as much as 12 million barrels of oil per day within six years with its new contracts.
Herman Franssen, president of U.S. analysis company International Energy Associates, told the Emirates Business 24/7 news agency the production goals are unlikely.
"Iraq continues to grapple with some very serious problems," he said. "I will be surprised if they are able to achieve a supply level of 10 (million) to 12 million barrels a day in a foreseeable future."
Iraq produces 2.3 million barrels of oil per day from its estimated 115 billion barrels of oil reserves. If the country does manage to reach the 10 million-12 million range, OPEC is likely to get upset, Franssen said.
"That's when Iraq's production will match the quota fixed for Iran," he said. "And considering the traditional rivalry between the two countries, Iraq will face difficulties in raising its output further."
Iraq announced this week it would develop the Nasiriyah oil field in the south of the country after a deal with Japan's Nippon Oil collapsed.
