Dr. Abdul Samad Saadoun – professor of International economic relations
It is no secret to any of the researchers specializing in the study and analysis of energy in the world that Iraq is a country rich in conventional or depleted energy, specifically oil and natural gas. although those energy capabilities have not yet been determined by their true weight for political, economic, and security reasons, However, the regional and international circumstances and fluctuations that have surrounded this civilized country since the resurrection of creation have stood as an impregnable barrier to its advancement and development. as well as not developing its conventional energy capabilities to be at the forefront of oil and natural gas producing countries.
Today, Iraq is another country in its strategic relations with the outside world. and there is no reason or argument to disturb those relations of common interest, It has all the options to develop its energy capabilities by simply stimulating foreign investment and developing its national potential as a modern energy exploration company and institution, particularly oil. and can place the energy sector statistically and digitally at the forefront of the sectors, to lead strategies for the economic and social development of other sectors as soon as financial resources (energy revenues) are provided and on broad and narrow development fronts following the conditions that allow the achievement of these goals in the future.
I. Iraq’s current and future conventional energy map (specifically oil and natural gas)
Iraq possesses a huge reserve of conventional energy, whether crude oil or natural gas, although it has not been exploited economically or technically, given its availability in different regions of Iraq, the oil policy still needs a lot of planning and hard work to identify and invest those areas to achieve Iraq’s economic viability and return and to increase the level of proven reserves in the near term.
Iraq consumes oil and natural gas, especially associated gas, which continues to be wasted as a result of combustion, thus losing the opportunity to invest in electricity generation, which is far less than what should be achieved through domestic exploitation of this gas and coverage of its basic needs rather than imports from abroad.
Total primary energy consumption amounts to about 70% of oil and 29% of natural gas, while renewable energy, both solar and hydropower, accounts for only about 1%.