Country Report
Iraq upstream summary
Report summary
Federal Iraq Iraq is the world's fourth 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. Its 150 billion barrels of oil resources offer production longevity, making the country a key long-term supplier to the global ...
Table of contents
- 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 1 and 2)
- Third Petroleum Licensing Round (October 2010)
- Fourth Petroleum Licensing Round (May 2012)
- Fifth Petroleum Licensing Round (April 2018)
- Fifth Plus Petroleum Licensing Round (May 2023)
- Sixth Petroleum Licensing Round (June 2023)
- Future Licensing Rounds
- Kurdistan
-
Drilling
- Drilling activity
- Success rates
-
Reserves and resources
- Oil reserves and resources
- Gas reserves and resources
-
Production
-
Liquids
- Recent production
- Southern Iraq
- Northern (Federal) Iraq
- Kurdistan
- Historical
-
Gas
- Recent production
- Historical
-
Liquids
-
Infrastructure
- Introduction
-
Oil infrastructure
- Key pipelines
-
The southern network
- Offshore terminals
-
The northern network
- Oil refineries
- Gas infrastructure
-
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
-
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
-
Key legislation
-
Fiscal terms
- 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
- Crude Oil Pricing
- 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
- Taxable income
- TSC Sample Cash Flow
Tables and charts
This report includes 54 images and tables including:
- Liquids Production by Sector
- Key facts: Table 1
- Location maps: Image 1
- Oil, Other Liquids and Gas Reserves
- Reserves and resources: Table 1
- Reserves and resources: Table 2
- 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
- Exploration: Table 8
- Fifth Plus bid round block areas
- Exploration: Table 9
- Sixth bid round block areas
- Kurdistan licensed blocks
- Blocks Awarded by Region
- Reserves and resources: Table 3
- Commercial Oil Reserves by Sector
- Commercial Gas Reserves by Sector
- Oil infrastructure
- Southern oil infrastructure
- Northern oil infrastructure
- Gas Processing Plants
- Gas Fired Power Stations
- Drilling Activity by Well Type
- Drilling Activity and Commercial Success Rates
- 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:
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