This paper outlines the Iraqi oil fields (with map), their current status, and some data on reserves, and considers the political divisions under the new constitution. The oil fields (and reserves) extend in a belt from the north to the south of Iraq, and will be a management concern of the regional and provincial governments.
The object is to distribute the fruits fairly and equitably among the provinces and their peoples. Whether and just how this will be accomplished remains to be seen.
Table I breaks down present production potential of 2.5 million bbl/day by provinces. Note esp. Kirkuk, Basra and East Bagdad. Basra, followed by Kirkuk, have the most reserves. The northern folded zone (complex geology) centered on Kirkuk will be harder to develop. Current production has been restored to 2.0-2.3 million bbl/day.

The concerns voiced by Ron Davies are valid, but I think general agreements allowing development to go ahead will come fairly soon (as oil deals go, within two years is my guess).