Country report
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52 Pages

Iraq upstream summary


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 reserves 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 been because of two main factors: the introduction of the Basrah Heavy blend and increased exports from ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.93 MB 52 Pages, 22 Tables, 24 Figures
  • Country Overview XLS - 955.00 KB

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Federal Iraq
    • Kurdistan
  • Geology
    • Introduction
    • Major petroleum plays
    • Southeast Turkey Foldbelt
    • Zagros Foldbelt
    • Widyan
  • Exploration
    • 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)
    • Basrah Gas Project (November 2011)
    • Exploration Licensing Round (May 2012)
    • Nasiriyah Licensing Round (Postponed)
    • Kurdistan
    • Drilling
      • Drilling activity
      • Success rates
  • Reserves and resources
    • Oil Reserves
    • Gas Reserves
  • Production
    • Liquids
      • Recent production
      • Southern Iraq
      • Kurdistan
      • Historical
    • Crude Oil Pricing
      • Export blends
      • Basrah Heavy / Light pricing
      • Kurdistan domestic pricing
    • Gas
      • Recent production
      • Historical
  • Infrastructure
    • Introduction
    • Oil infrastructure
      • Key pipelines
    • The southern network
      • Offshore terminals
    • The northern network
      • Oil refineries
    • Gas infrastructure
      • Northern gas plant
      • Southern gas plant
      • Basra Gas Project
  • Costs
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
  • Policy and regulation
    • Key legislation
      • Political framework
      • Petroleum Legislation
    • Regulatory body
    • State oil company
    • State participation
    • Position in OPEC
  • Fiscal terms
    • Current fiscal terms
    • Technical Service Contract (Federal Iraq)
      • Signature bonus
      • Training fee
      • Service fees
      • Cost oil
      • Remuneration fees
      • Performance-related penalty
      • Gas remuneration
      • Taxable income
      • TSC Sample Cash Flow
    • 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

In this report there are 46 tables or charts, including:

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