Oil and Gas Investor


Barnaby Fletcher, Lise Liezenga

Iraq Oil & Gas 2011 OGI Release

January 06, 2011

When discussing Iraq’s potential, it is easy to lapse into superlatives. The sheer volume of reserves and size of investment needed to develop them are on a scale no other country can match. Iraq currently ranks third globally in proven oil reserves, with a total of more than 143.1 billion barrels. The cost of extracting these reserves is approximately US$1 per barrel, the lowest in the world. However, the bulk of Iraq’s data comes from exploration performed more than three decades ago. With more than 70% of the country unexplored and 3-D seismic technology only recently introduced, estimates of total oil reserves still approach 350 billion barrels—a figure that would make Iraq the world’s wealthiest hydrocarbon country.


BRADE was established in 2012 and currently has offices in Nigeria, Ghana and Uganda. The company offers a wide array of services to the African market ranging from energy services solutions, chemical solutions to manufacturing.
Lekoil is an Africa-focused oil exploration and production company with interests in Nigeria and offshore Namibia.
ACAS-Law is a leading corporate commercial law firm in Nigeria established in 1991 with extensive experience in the oil and gas industry.
Workforce group is one of Africa’s leading strategy, staffing, training and technology firms.


GBR speaks to Leopold Mboli Fatran, Minister of Mines and Geology of Central African Republic concerning the challenges of developing the country’s resource industries.