Asset Report
Tuba
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Tuba is an underdeveloped oil field located in southern Iraq’s Widyan–North Arabian Gulf basin, in the Basra province. Discovered in 1959 by the Iraq Petroleum Company, its development was deferred until 2009 due to its lower strategic priority compared to larger neighbouring fields such as Rumaila, West Qurna, and Zubair, which were already integrated into Iraq’s export infrastructure. Under the operatorship of Basra Oil Company, Tuba’s production has fluctuated significantly, ranging from 35,000 b/d in 2016 to just over 6,000 b/d in 2020. These variations were largely driven by its role in helping Iraq manage its OPEC+ production quotas. In May 2025, the Iraqi government awarded Geo-Jade Petroleum a major integrated development contract, known as the South Basra Integrated Project (SBIP). The project includes upstream, downstream, fertiliser, and power components.
Table of contents
- Summary
-
Key Issues
- Issues common to the southernoil developments
- Issues specific to Tuba
- Regional setting
- Field reservoirs
- Oil
- Gas
- Oil
- OPEC+
- Gas
- Emissions
- Background
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Phase 1 (commercial base case)
- Wells
- Processing facilities
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Phase 2 (sub-commercial case)
- Wells
- Processing facilities
- Storage facilities
- Capital costs
- Training fee
- Infrastructure fund
- Service fees
- Cost oil
- 2 more item(s)...
- Cash flow
- 6 more item(s)...
Tables and charts
This report includes the following images and tables:
- Reserves (2P) at 01/01/2025
- Contingent Resources (2C) at 01/01/2025
- Production (2015-2024)
- Tuba (pre-2025)
- Tuba Baseline
- Tuba
- Tuba (Post-Contract)
- Cash flow (US$ million)
- Cash flow PV (US$ million)
- Summary Table (US$)
- Cumulative Net Cash Flow - Undiscounted
- Split of Revenues
- 10 more item(s)...
What's included
This report contains:
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