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6 Pages

Kurdistan-focused oil and gas companies are suffering, but hanging on


Kurdistan-focused oil and gas companies are suffering, but hanging on

Report summary

Times are tough in the Kurdistan Region of Iraq. The low oil price has added to the Kurdistan Regional Government's financial woes. As a result, Kurdistan-focused companies have suffered from a lack of payments from the KRG, and recent reserve downgrades along with low oil prices have increased the strain.
Yet, we expect the Kurdistan-focused IOCs, with the possible exception of Gulf Keystone, to survive in the short-term. However, more will struggle if the climate doesn’t improve over the coming two to three years. 

What's included?

This report includes 1 file(s)

  • Kurdistan-focused oil and gas companies are suffering, but hanging on PDF - 362.30 KB 6 Pages, 1 Tables, 7 Figures

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

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 upstream commercial data and analysis.

  • Executive summary
  • Operating in Kurdistan remains tough
    • Although regular payments to IOCs have restarted, they remain at risk
      • Reserve downgrades have knocked confidence in the region
      • Companies look to bide time until climate improves
        • Net cash flow from upstream operations and gearing for Kurdistan-focused companies
    • Cost control is an area of focus
    • M&A deals are unlikely, but more relinquishment possible
  • Revised investment plans reduce the supply outlook

In this report there are 8 tables or charts, including:

  • Executive summary
  • Operating in Kurdistan remains tough
    • Change in commercial and technical reserves, Q4 2014 to Q2 2016
    • Share price since 01 Jan 2014 - indexed
    • Kurdistan-focused oil and gas companies are suffering, but hanging on: Table 1
    • Kurdistan-focused oil and gas companies are suffering, but hanging on: Image 3
    • Kurdistan-focused oil and gas companies are suffering, but hanging on: Image 4
    • Kurdistan-focused oil and gas companies are suffering, but hanging on: Image 5
    • Regional M&A deals
  • Revised investment plans reduce the supply outlook
    • Kurdistan production profile
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