The increases were due both to improved Iraqi efforts and investments by international companies that have signed contracts to develop Iraqi fields.
Oil output hovered at around 2.4 million barrels a day after the U.S.-led invasion of 2003. The government has awarded 12 licenses for oil developments and three for gas, and oil ministry experts will hold meetings “within days” to prepare a preliminary draft for contracts to be auctioned in a fourth licensing round
On Dec 20, 2010, the announcement was made that Iraq oil production would increase to 2.75 million barrels per day which was a 400,000 barrel per day increase.
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