Country Report

Iraq upstream summary

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12 June 2018

Iraq upstream summary

Report summary

Iraq has made the largest contribution to OPEC capacity growth, almost 2 million b/d, since 2010 when it signed development contracts with IOCs. Its 150 billion barrels of oil resources offer production longevity, making the country a key long-term supplier to the global oil market. In 2015, there was a large uptick in production from 3.5 million b/d in 2014 to 4.1 million b/d. This was because of two main factors: the introduction of the Basrah Heavy blend and increased exports from the ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
    • Federal Iraq
    • Kurdistan
    • Introduction
    • Major petroleum plays
    • Southeast Turkey Foldbelt
    • Zagros Foldbelt
    • Widyan
    • Licensing
    • Federal Iraq
    • First Petroleum Licensing Round (June 2009)
    • Second Petroleum Licensing Round (December 2009)
    • Contract renegotiations (Rounds one and two)
    • Third Petroleum Licensing Round (October 2010)
    • Fourth Petroleum Licensing Round (May 2012)
    • Fifth Petroleum Licensing Round (April 2017)
    • Kurdistan
    • Drilling
      • Drilling activity
      • Success rates
    • Oil reserves and resources
    • Gas reserves and resources
    • Liquids
      • Recent production
      • Southern Iraq
      • Kurdistan
      • Historical
    • Gas
      • Recent production
      • Historical
    • Introduction
    • Oil infrastructure
      • Key pipelines
    • The southern network
      • Offshore terminals
    • The northern network
      • Oil refineries
    • Gas infrastructure
      • Northern gas system
      • Southern gas system
      • Basrah Gas Company
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
    • Key legislation
      • Political framework
      • Petroleum Legislation
    • Regulatory body
    • State oil company
    • State participation
    • Position in OPEC
    • Overview
    • Current fiscal terms
    • Hybrid service contract (Federal Iraq)
      • Signature bonus
      • Training fee
      • Royalty
      • Payment
      • Petroleum costs
      • Remuneration
      • Performance factor
      • Crude Oil Pricing
      • Gas pricing
      • Taxable income
    • Production Sharing Contract (Kurdistan)
      • Signature Bonus
      • Royalty
      • Cost Recovery
      • Profit Oil and Gas
      • Taxable income
      • Area rentals
      • Training fees
      • Other fees
      • Bonus payments
    • Capacity Building Payments
    • Carried costs
      • PSC Sample Cash Flow
    • Historical background
    • Technical Service Contract (Federal Iraq)
      • Signature bonus
      • Training fee
      • Service fees
      • Cost recovery
      • Remuneration fees
      • Performance factor
      • Gas remuneration
      • Crude Oil Pricing
      • Taxable income
      • TSC Sample Cash Flow

Tables and charts

This report includes 50 images and tables including:

  • Liquids Production by Sector
  • Key facts: Table 1
  • Location maps: Image 1
  • Remaining Oil, Other Liquids and Gas Reserves
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Liquids and Gas Production 2016
  • Remaining Commercial and Technical Reserves at 01/01/2018
  • Geological Basin Map of Iraq
  • Southeast Turkey Foldbelt Stratigraphy
  • Zagros Foldbelt Stratigraphy
  • Widyan Stratigraphy
  • Exploration: Table 1
  • State oil company map
  • Exploration: Table 2
  • Exploration: Table 3
  • Exploration: Table 4
  • Exploration: Table 5
  • Exploration: Table 6
  • Fourth bid round awarded contract areas
  • Exploration: Table 7
  • Fifth bid round awarded contract areas
  • Kurdistan licensed blocks
  • Exploration: Table 8
  • Blocks Awarded by Region
  • Reserves and resources: Table 3
  • Gas Reserves by Sector
  • Oil infrastructure
  • Southern oil infrastructure
  • Northern oil infrastructure
  • Gas Infrastructure Map
  • Drilling Activity by Well Type
  • Geological and Commercial Success Rates
  • Liquids Production by Sector
  • Production: Table 1
  • Production: Table 2
  • Gas Production by Sector
  • Production: Table 3
  • Production: Table 4
  • Infrastructure: Table 1
  • Infrastructure: Table 2
  • Capital Expenditure by Region (US$ Million)
  • Operating Expenditure by Region (US$ Million)
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • Fiscal terms: Table 5
  • Fiscal terms: Table 6
  • Fiscal terms: Table 7

What's included

This report contains:

  • Document

    Country Overview

    PDF 36.98 MB

  • Document

    Country Overview

    XLS 1.07 MB

  • Document

    Country Overview

    ZIP 37.84 MB

  • Document

    Executive summary

    PDF 94.28 KB

  • Document

    Key facts

    PDF 67.11 KB

  • Document

    Location maps

    PDF 5.75 MB

  • Document

    Key companies

    PDF 107.86 KB

  • Document

    Geology

    PDF 1.58 MB

  • Document

    Exploration

    PDF 11.87 MB

  • Document

    Reserves and resources

    PDF 150.90 KB

  • Document

    Production

    PDF 146.79 KB

  • Document

    Infrastructure

    PDF 17.79 MB

  • Document

    Costs

    PDF 98.19 KB

  • Document

    Policy and regulation

    PDF 96.30 KB

  • Document

    Fiscal terms

    PDF 144.67 KB

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