Asset report
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26 Pages

West Qurna Two


West Qurna Two

Report summary

The entire West Qurna/Rumaila structure, located in the Basra province, is one of the largest oil fields in the world, second only to Saudi Arabia's Ghawar field. The northern section, West Qurna Two remained undeveloped until LUKOIL and Statoil were awarded a Technical Service contract (TSC) in 2010. Statoil exited the project in 2012, with LUKOIL taking over its interest. The field was brought onstream in March 2014, and reached its initial target of 3 months production at 120,000 b/d in June 2014.

What's included?

This report includes 2 file(s)

  • West Qurna Two PDF - 694.90 KB 26 Pages, 19 Tables, 13 Figures
  • West Qurna Two XLS - 808.50 KB

Description

Lower oil prices and a call for increased returns from shareholders has caused a subtle shift to occur in the upstream oil and gas industry. This shift is increasing investment opportunities and driving capital discipline.

In this Upstream Oil and Gas Field report you'll find information about participation, exploration, geology, reserves, production, infrastructure, cost, economics and much more.

For potential investors, governments and companies in the oil and gas sector, this report provides an understanding of critical issues at the field level. It will help give you a commercial view of the field and recognise potential benefits and risks.

Wood Mackenzie has over 40 years of experience in commercial analysis and field valuations. Our analysts produce forward-looking analyses, backed by our robust proprietary database of trusted research.

Covering more than 105 countries, we are the recognised gold standard in commercial data and analysis.

  • Key facts
  • Summary and key issues
    • Summary
    • Key issues
  • Location maps
  • Participation
    • Technical Service Contract
    • 1997 PSC
  • Geology
    • Mishrif Formation
    • Yamama Formation
    • Sadi Formation
    • Zubair Formation
    • Ratawi Formation
    • Najmah Formation
  • Well data
  • Exploration
  • Reserves and resources
    • Oil
    • Gas
    • Condensate and LPG
  • Production
    • Oil
    • Gas
  • Development
    • Key Development Metrics
    • Pre-2010
    • TSC development plan
  • Infrastructure
  • Costs
    • Capital costs
    • Operating costs
  • Sales contracts
    • Crude oil
      • Basrah Light
      • Basrah Heavy
    • Sales Gas
  • Fiscal and regulatory
    • Signature bonus
    • Training fee
    • Service fees
    • Cost oil
    • Remuneration fees
    • Performance factor
    • Corporation tax
  • Economic assumptions
    • Cash Flow
    • Discount rate and date
    • Inflation rate
    • Oil price
    • Condensate Price
    • LPG Price
    • Global Economic Model (GEM) file
  • Economic analysis
    • Cash flow

In this report there are 32 tables or charts, including:

  • Key facts
    • Key facts: Table 1
  • Summary and key issues
  • Location maps
    • Index Map
    • Detail Map
  • Participation
    • Participation: Table 1
  • Geology
    • Geology: Table 1
  • Well data
    • Well data: Table 1
  • Exploration
  • Reserves and resources
    • Reserves and resources: Table 1
    • Reserves and resources: Table 2
  • Production
    • Production: Table 1
    • Production: Table 2
    • West Qurna Phase 2
  • Development
  • Infrastructure
    • Infrastructure: Table 1
  • Costs
    • Costs: Table 1
    • Costs: Table 2
    • Costs: Table 3
  • Sales contracts
  • Fiscal and regulatory
    • Fiscal and regulatory: Table 1
  • Economic assumptions
  • Economic analysis
    • West Qurna Two TSC Cash Flow
    • Economic analysis: Table 2
    • Economic analysis: Table 3
    • Split of Revenues
    • Cumulative Net Cash Flow - Undiscounted
    • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2017
    • Remaining Revenue Distribution (Discounted at 10% from 01/01/2017)
    • Remaining PV Price Sensitivities
    • Economic analysis: Table 4
    • Economic analysis: Table 5
    • Economic analysis: Table 6
    • Split of Revenues
    • Cumulative Net Cash Flow - Undiscounted
    • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2017
    • Remaining Revenue Distribution (Discounted at 10% from 01/01/2017)
    • Remaining PV Price Sensitivities
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