Country Report
Iraq upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Federal Iraq Iraq is the world's sixth biggest oil producer with a capacity of around 5 million b/d. Production capacity grew from 2.4 million b/d in 2010 to 5 million b/d in 2019, underpinned by IOC-led development at the giant and super-giant southern oil fields (Rumaila, West Qurna 1, West Qurna 2, Zubair and Halfaya). Iraq has an abundance of low-cost oil. In July 2025, the Ministry of Oil estimated the country holds 145 billion barrels of oil and 132 trillion cubic feet of gas ...
Table of contents
-
Executive summary
- Federal Iraq
- Kurdistan
- 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 1 and 2)
- Third Petroleum Licensing Round (October 2010)
- Fourth Petroleum Licensing Round (May 2012)
- Fifth Petroleum Licensing Round (April 2018)
- 6 more item(s)...
-
Reserves and resources
- Oil reserves and resources
- Gas reserves and resources
-
Production
-
Liquids
- Recent production
- Northern exports
- Southern Iraq
- Northern (Federal) Iraq
- Kurdistan
- Future
- Historical
-
Gas
- Federal Iraq
- Kurdistan
- Historical
-
Liquids
-
Infrastructure
- Introduction
-
Oil infrastructure
- Key pipelines
-
The southern network
- Offshore terminals
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The northern network
- Oil refineries
- Gas infrastructure
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Gas processing plants
- Operational
- Under-construction or planned
- Proposed or speculative
- Northern gas system and Kurdistan gas network
- Southern gas system
- Basrah Gas Company
- Other gas infrastructure
- Iranian gas imports
- 2 more item(s)...
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Costs
- Introduction
-
Capital costs
- Capital expenditure by location
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Operating costs
- Operating expenditure by location
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Policy and regulation
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Key legislation
- Political framework
- Petroleum Legislation
- Regulatory body
- State oil company
- State participation
- Position in OPEC
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Key legislation
-
Fiscal terms
- Overview
- Current fiscal terms
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Hybrid service contract (Federal Iraq)
- Signature bonus
- Training fee
- Royalty
- Payment
- Petroleum costs
- Remuneration
- Performance factor
- Crude Oil Pricing
- 2 more item(s)...
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Production Sharing Contract (Kurdistan)
- Signature Bonus
- Royalty
- Cost Recovery
- Profit Oil and Gas
- Crude Oil Pricing
- Taxable income
- Area rentals
- Training fees
- 2 more item(s)...
- Capacity Building Payments
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Carried costs
- PSC Sample Cash Flow
- Historical background
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Technical Service Contract (Federal Iraq)
- Signature bonus
- Training fee
- Service fees
- Cost recovery
- Remuneration fees
- Performance factor
- Gas remuneration
- Taxable income
- 1 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Location maps: Image 1
- Oil, Other Liquids and Gas Reserves
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- Liquids Production by Sector
- Geological Basin Map of Iraq
- Southeast Turkey Foldbelt Stratigraphy
- Zagros Foldbelt Stratigraphy
- Widyan Stratigraphy
- Exploration: Table 1
- State oil company map
- 41 more item(s)...
What's included
This report contains:
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