Asset report
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26 Pages

Iraq Widyan - North Arabian Gulf exploration basin

Iraq Widyan - North Arabian Gulf exploration basin

Report summary

Exploration in the Widyan - North Arabian Gulf Basin has provided a number of super-giant oil discoveries, trapped in compression related structures associated with the convergence of the Arabian and Iranian plates.  Despite the huge hydrocarbon potential of the region, exploration and production has been limited by a series of above-ground issues.

What's included?

This report includes 2 file(s)

  • Iraq Widyan - North Arabian Gulf exploration basin PDF - 957.31 KB 26 Pages, 22 Tables, 31 Figures
  • Iraq Widyan - North Arabian ZIP - 2.91 MB


Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.

Explorers and advisors can use this report to understand the history and potential value of this basin.

Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.

Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.

  • Key facts
  • Summary and key issues
    • Key issues include:
  • Location maps
  • Participation
  • Key companies
    • Licensing participation
  • Geology
  • Exploration
    • Wells drilled
    • Basin success rate
  • Reserves and resources
    • Volumes discovered
    • Yet-to-find potential
      • Play inputs
        • Creaming curve and key play data
        • Model field pool size distribution
        • Existing discoveries and modelled yet-to-find pool size distribution
  • Development
    • Yet-to-find costs and underlying development assumption
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
      • Commencement and Plateau Production Targets
  • Economic assumptions
    • Oil and gas prices
  • Economic analysis
    • TYP economics
    • Outlook economics
      • Development value
        • Cretaceous Exploration
        • Cretaceous DROs
      • Expected monetary value (EMV)
      • Play economics
    • Full cycle basin economics
      • Implied acreage value

In this report there are 53 tables or charts, including:

  • Key facts
    • Play level data
    • Assumptions
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook)
    • Commerciality Index
  • Location maps
    • Exploration history map
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Key companies
    • Key licence holders
    • Key well operators (TYP period)
    • Gross exploration wells completed by operator
    • Net exploration wells completed by participant
    • Company success rates and discoveries
  • Geology
    • Key play characteristics
  • Exploration
    • Drilling activity by well type
    • Cumulative exploration wells by play
    • Discoveries and success rates
    • Discoveries by licence year and drilling year
  • Reserves and resources
    • Basin creaming curve
    • Key basin data
    • Volumes discovered by year
    • Average discovery size and volume per well by year
    • Top discoveries (TYP period)
    • Reserves and resources: Image 4
    • Reserves and resources: Image 5
    • Forecast data by Play (outlook)
    • Cretaceous
    • Reserves and resources: Table 4
    • Cretaceous Exploration
    • Cretaceous
  • Development
    • Cretaceous Exploration
    • Cretaceous DROs
  • Costs
    • Recent discovery costs
    • Summary of discovery and development costs
    • Exploration and appraisal spend
    • Exploration spend per well and average well depth
  • Fiscal and regulatory
    • Typical fiscal terms
    • Cretaceous Exploration
    • Fiscal and regulatory: Table 3
  • Economic assumptions
    • Brent and local oil price assumptions
    • Henry Hub and local gas prices assumptions
  • Economic analysis
    • Value creation, spend and volume discovered
    • Returns by drilling year
    • Value creation versus investment
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Value of potential discoveries
    • Unit value of potential discoveries
    • Cretaceous Exploration
    • Cretaceous exploration
    • Full-cycle economic analysis (exploration)
    • Average value of future discoveries and implied acreage value
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