Iraq's oil fields surged to a record 4.67 million barrels per day last December, but the real story of the nation's industrial might is how this colossal energy wealth is fueling a powerful and broad-based revival across its entire economy.
Key Takeaways
- Iraq's crude oil production reached 4.67 million barrels per day (bpd) in December 2023, marking a 5.2% increase from the previous year
- The Rumaila oil field, operated by BP, produced 1.5 million bpd in 2023, accounting for 32% of Iraq's total output
- Iraq's oil exports averaged 3.5 million bpd in the first half of 2024, primarily from southern Basra terminals
- Iraq's natural gas production averaged 22 billion cubic feet per day (bcf/d) in 2023
- Associated gas utilization rate improved to 65% in southern fields in 2023
- Khor Mor gas field produced 450 million cubic feet per day (MMcf/d) in 2023
- Iraq's manufacturing sector GDP contribution was 6.2% in 2023 valued at $12 billion
- Cement production reached 38 million tons in 2023, up 12% YoY
- Food processing industry output grew to $4.5 billion in 2023
- Construction sector grew 8.5% contributing 7% to GDP in 2023 at $14 billion
- Cement consumption for construction hit 42 million tons in 2023
- Housing projects completed 50,000 units under government program 2023
- Phosphate mining output 1.2 million tons from Akashat mine 2023
- Sulfur production 1.5 million tons byproduct from oil 2023 Mishraq
- Gypsum extraction 3 million tons for cement industry 2023
Iraq's industrial growth is fueled by rising oil production and diverse manufacturing expansion.
Construction
- Construction sector grew 8.5% contributing 7% to GDP in 2023 at $14 billion
- Cement consumption for construction hit 42 million tons in 2023
- Housing projects completed 50,000 units under government program 2023
- Road construction covered 2,500 km new highways in 2023
- Baghdad International Airport expansion added 20 gates in 2023 phase
- Basra port new container terminal capacity 1 million TEU/year 2023
- 15 new hospitals built with 5,000 beds total in 2023
- Irrigation canals constructed 1,200 km in south Iraq 2023
- Power plant construction added 3,000 MW capacity in 2023
- Oil storage tanks built 50 units capacity 20 million barrels 2023
- Residential towers 100+ floors planned, 20 completed in Erbil 2023
- Water treatment plants 30 new units serving 5 million people 2023
- Bridge construction 150 new spans total 20 km length 2023
- Industrial zones developed 10 sq km in 5 provinces 2023
- School buildings 1,000 new classrooms added 2023
- Railway lines extended 300 km high-speed track 2023
- Hotel construction 25 new 4-star+ properties 10,000 rooms 2023
- Sewage networks laid 800 km pipes in urban areas 2023
- Stadiums built 5 with 50,000 seats total for sports 2023
- Dam construction Badush dam 250 MCM capacity phase1 2023
- Commercial malls 15 new 2 million sqm retail space 2023
Construction Interpretation
Amidst the dusty echoes of conflict, Iraq is now humming with the sound of cement mixers and cranes, building not just roads and roofs but the very skeleton of a functioning state, one new classroom, hospital gate, and power megawatt at a time.
Manufacturing
- Iraq's manufacturing sector GDP contribution was 6.2% in 2023 valued at $12 billion
- Cement production reached 38 million tons in 2023, up 12% YoY
- Food processing industry output grew to $4.5 billion in 2023
- Steel production capacity utilization at 45% with 2.5 million tons output 2023
- Textile factories produced 150 million sqm fabric in Baghdad region 2023
- Pharmaceutical manufacturing output $1.2 billion, 80% import substitution 2023
- Fertilizer plants in Basra produced 2 million tons urea in 2023
- Brick manufacturing hit 5 billion units across 200 factories in 2023
- Dairy processing yielded 1.5 million tons milk products in 2023
- Sugar refining capacity 500,000 tons annually, 2023 output 450k tons
- Leather goods factories exported $200 million worth in 2023
- Plastic products manufacturing grew 15% to $800 million in 2023
- Paper and cardboard output 300,000 tons from 5 mills in 2023
- Detergent production reached 400,000 tons in state factories 2023
- Aluminum extrusion plants produced 50,000 tons profiles 2023
- Glass manufacturing 1 million tons sheets and bottles 2023
- Tobacco processing output 20,000 tons cigarettes equivalent 2023
- Vegetable oil refining 800,000 tons capacity, 700k output 2023
- Footwear factories made 15 million pairs in 2023
- Paints and coatings production $300 million sales 2023
- Engineering workshops fabricated 10,000 tons machinery parts 2023
Manufacturing Interpretation
Despite its promising surge in cement and food output, Iraq's industrial base remains a lopsided tower of bricks and pharmaceuticals, precariously balanced on underused steel mills and still missing entire floors of self-sufficiency.
Mining
- Phosphate mining output 1.2 million tons from Akashat mine 2023
- Sulfur production 1.5 million tons byproduct from oil 2023 Mishraq
- Gypsum extraction 3 million tons for cement industry 2023
- Salt production from lakes 500,000 tons annually 2023
- Limestone quarries supplied 25 million tons for construction 2023
- Silica sand mining 1 million tons for glass making 2023
- Kaolin clay extraction 400,000 tons ceramics use 2023
- Basalt rock aggregate 10 million tons roads 2023
- Dolomite mining 800,000 tons refractories 2023
- Copper exploration in Anbar yielded 50,000 tons ore 2023
- Gold artisanal mining 2 tons from Kurdistan streams 2023
- Iron ore deposits in Anbar assessed 100 million tons reserves 2023
- Marble quarrying 500,000 cubic meters blocks 2023
- Feldspar mining 200,000 tons ceramics 2023
- Zeolite deposits exploited 100,000 tons agriculture 2023
- Bentonite clay 300,000 tons drilling muds 2023
- Pumice stone extraction 150,000 tons lightweight concrete 2023
- Coal mining negligible but 50,000 tons from Sulaymaniyah 2023
- Uranium exploration in western desert 2023 surveys 10 sites
Mining Interpretation
Iraq's industrial backbone is being rebuilt brick by brick, ton by ton, proving the nation's true wealth lies not just in its oil fields but in the rocks, salts, and sands being pulled from the earth with a stubborn, productive resolve.
Natural Gas
- Iraq's natural gas production averaged 22 billion cubic feet per day (bcf/d) in 2023
- Associated gas utilization rate improved to 65% in southern fields in 2023
- Khor Mor gas field produced 450 million cubic feet per day (MMcf/d) in 2023
- Iraq imported 1.2 bcf/d of gas from Iran to fuel power plants in 2023
- Mansuriya gas field development targets 300 MMcf/d by 2025, current 50 MMcf/d in 2023
- Gas flaring volume was 17.5 bscfd in Basra governorate alone in 2023
- Iraq's gas reserves estimated at 132 trillion cubic feet (tcf) in 2023
- Chemchemal gas field started production at 100 MMcf/d in Q4 2023
- Siba gas field output reached 75 MMcf/d with steady condensate
- Gas processing capacity expanded by 200 MMcf/d in Garraf plant 2023
- Iraq flared 8.5 billion cubic meters of gas in 2023, 4th highest globally
- Pipeline to Baghdad carried 250 MMcf/d from Kirkuk in 2023
- LNG import terminal in Basra handled 0.5 bcf/d equivalent in 2023
- Gas reinjection projects captured 3 bscfd in Rumaila 2023
- Iraq's gas sector investment hit $5 billion in 2023 contracts
- Miran gas field appraisal yielded 1 tcf reserves in 2023 drilling
- Bina Bawi field potential 0.8 tcf, early production 20 MMcf/d 2023
- National gas company SOMO exported 0.2 bcf/d LNG in 2023
- Gas turbine power generation used 15 bcf/d domestically in 2023
- Iraq plans 30 bcf/d production by 2030, 2023 baseline 22 bcf/d
- Kurdish region's gas output 600 MMcf/d in 2023 from Khor Mor
- Gas separation plants processed 10 bcf/d in south Iraq 2023
- Condensate from gas fields averaged 50,000 bpd in 2023
Natural Gas Interpretation
Iraq's gas sector presents a paradox of immense potential and painful inefficiency, where promising new production sprints to catch up with staggering waste, all while the country burns billions importing fuel it flares into the sky next door.
Oil & Gas Production
- Iraq's crude oil production reached 4.67 million barrels per day (bpd) in December 2023, marking a 5.2% increase from the previous year
- The Rumaila oil field, operated by BP, produced 1.5 million bpd in 2023, accounting for 32% of Iraq's total output
- Iraq's oil exports averaged 3.5 million bpd in the first half of 2024, primarily from southern Basra terminals
- West Qurna 1 field achieved peak production of 600,000 bpd under ExxonMobil management in 2023
- Majnoon oil field output hit 240,000 bpd in 2023 with Shell's involvement
- Iraq drilled 1,200 new oil wells in 2023, boosting reserves recovery rates to 25%
- Proven oil reserves in Iraq stood at 145 billion barrels as of 2023, ranking 5th globally
- Zubair oil field produced 400,000 bpd in 2023 under Eni operations
- Kirkuk oil field contributed 350,000 bpd despite pipeline disruptions in 2023
- Halfaya field reached 200,000 bpd with PetroChina's enhancements in 2023
- Garraf field output grew to 140,000 bpd in 2023 by Petronas and Japanese partners
- Qaiyarah field resumed production at 30,000 bpd post-ISIS liberation in 2023
- Iraq's associated gas flaring reduced by 15% to 18 billion cubic meters in 2023
- Enhanced oil recovery techniques increased production by 200,000 bpd across fields in 2023
- Basra Heavy crude grade averaged $75 per barrel in 2023 exports
- Iraq signed 12 new oil exploration contracts covering 5,000 sq km in 2023
- National Oil Company produced 150,000 bpd from small fields in 2023
- Oil rig count in Iraq reached 250 active rigs in Q4 2023
- Secondary recovery projects added 500,000 bpd capacity by end-2023
- Tertiary recovery pilots in Rumaila boosted output by 10% in 2023 tests
- Iraq's oil production quota under OPEC+ was 3.5 million bpd in 2024
- South Oil Company managed 70% of national production at 3.2 million bpd in 2023
- North Oil Company output stabilized at 400,000 bpd post-repairs in 2023
- Missan Oil Company achieved 450,000 bpd from Abu Ghirab field in 2023
- Thi-Qar Oil Company ramped up to 300,000 bpd in Halfaya-Nasiriya in 2023
- Dhi Qar fields contributed 10% to national gas production at 5 bcf/day in 2023
- Cumulative oil production since 2020 exceeded 1 billion barrels from super-giant fields
- Digital oilfield tech in Rumaila increased uptime to 98% in 2023
- Iraq's oil sector employed 250,000 workers directly in 2023
- LPG production from oil fields hit 12,000 tons per day in 2023
Oil & Gas Production Interpretation
While Iraq's immense oil fields pump a river of crude—led by giants like Rumaila's single-handed contribution of one-third—the real story is its fragile, single-threaded economy feverishly drilling new wells and chasing recovery techniques, leaving it desperately dependent on both volatile prices and its own ability to patch aging infrastructure.
Utilities
- Electricity generation capacity reached 28,000 MW in 2023 with 75% utilization
- Installed power plants 150 units total 25 GW thermal/gas 2023
- Renewable energy added 1,000 MW solar/wind by end-2023
- Water production 12 billion cubic meters annually from 5,000 stations 2023
- Desalination plants in Basra produced 1.5 million m3/day 2023
- Transmission lines 50,000 km high voltage grid 2023
- Peak demand 27,000 MW summer 2023 met 85%
- Hydropower from Mosul dam 800 MW average 2023
- Sewage treatment capacity 4 million m3/day 50 plants 2023
- Natural gas fired plants generated 80% of electricity 120 TWh 2023
Utilities Interpretation
Iraq's energy and water sectors show a story of impressive, hard-won infrastructure desperately patching up a grid that still gasps under demand, revealing a nation building with one hand while the other wrestles with the stubborn gaps between capacity and reliable supply.
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