Iraq’s Oil Reserves: Untapped Potential

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Iraq’s Oil Reserves: Untapped Potential

Post by maccmohan on Tue 21 Dec 2010, 5:57 pm

Iraq’s Oil reserves are worth over $11.6-Trillion dollars, with 143.1 billion barrels of oil which rank Iraq the second largest oil reserve in the world after Saudi Arabia. What you might not know is up to 90 percent of the country remains unexplored because of all the years of war and sanctions. Iraq has every potential to be the largest exporter and reserve of oil in the world. Only about 2,000 wells have ever been drilled in comparison over 1million wells have been drilled in Texas alone.


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