Oil exports through Iraq’s northern pipeline have risen more than tenfold in the past year on less sabotage, U.S. agency the Special Inspector General for Iraq Reconstruction said in a report Saturday.
Iraqi oil exports are up from one million barrels a month in July 2007 to 13 million in July 2008, or $8 billion worth, according to the report.
Sigir, successor to the Coalition Provisional Authority Inspector General, was created by the U.S. Congress to oversee Iraq reconstruction.
SIGIR’s field inspections found U.S. patrols and Iraqi guard duty along the 120-kilometre pipeline route are keeping insurgents away.
International oil companies operating in Northern Iraq have cited better security for the prospect of better exports for their increased development and production.
DNO Internatinoal, a Norway-based oil company, is producing 11,000 barrels of oil per day day from the Tawke field. But typical for oil companies in Northern Iraq, it’s been hardpressed to explain to shareholders how much throughput now flows through either of the two pipelines fromt the Beiji refinery near Kirkuk to Ceyhan on the coast of Turkey.
The two pipelines carry a combined capacity of 1.5 MM bpd.
ws@scandoil.com
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