Iraq Projects, H1 2022 – Outlook of Major Projects in Iraq – MEED Insights

Pages: 95 Published: March 01, 2022 Report Code: GDMD045CON

Political and economic climate

Iraq’s fifth national election since the US invasion in 2003 marked a shift in power for the country, with Shia cleric Muqtada al-Sadr’s Sairoon Alliance winning significantly more seats in October 2021 than any other party. The election results are unlikely to improve security or political situation, however. Low participation in the election reflected the disillusionment of many Iraqis in the existing political system and the political class that holds the power. Despite the uncertainty, Iraq’s government has made significant progress over recent months on projects designed to enhance the country’s oil and gas sector and reduce pollution, signing deals with several western companies. Furthermore, with rising oil prices and improved fiscal outlook, the government is finding itself in a better financial position with which it fund projects.

Iraq’s economy has been negatively impacted by the Covid-19 pandemic as well as by plunging oil and gas prices. As a result, real GDP growth was contracted by more than 15 per cent in 2020. However, with improved economic climate and public finances, the GDP growth is projected to be around 3.6 per cent in 2021 as estimated by the IMF which represents, on paper, a sign of recovery. Similarly, as a result of the fall in the government’s revenue from the oil sector, along with its emergency spending on pandemic countermeasures and relief, public debt rocketed from 45.1 per cent of GDP in 2019 to 84.2 per cent in 2020 – a 86 per cent increase in the country’s debt burden. The IMF estimates that debt burden is estimated to have dropped to 60 per cent of GDP in 2021. Furthermore, Inflation is projected to touch 4.5 per cent in 2022, according to the IMF.

Outlook for projects

Due to its huge oil and gas wealth, Iraq is the fourth largest projects markets in the region, with some $353bn worth of schemes planned and unawarded. More than 60 per cent of the projects planned in the country are currently in the design (including FEED) phase.

A majority of the upcoming projects belong to the construction sector, followed by the oil, power, gas, transport, water and petrochemical sectors. However, some of the planned schemes may experience delays in the short to medium term due to the ongoing Covid-19 pandemic, economic and political situation in the country.

Written by MEED, the Middle East market experts within the GlobalData Group, “Iraq Projects H1 2022” there is no doubt that Iraq can be a high-risk, challenging market. But it offers some of the best potential project opportunities in the region, should the right conditions prevail.

Scope

NA

Reasons to Buy

Opportunities and challenges in Iraq’s projects market

Analysis of the pipeline of planned projects and contract awards

Key policies and drivers shaping the outlook for projects in Iraq

Political and economic background

The barriers and challenges that may arise

Sector-by-sector breakdown of future project plans

Key drivers of projects in each sector

Iraq’s most valuable key projects and major project sponsors

Table of Contents

Table of Contents

Executive Summary

Iraq Country Overview

Iraq Projects Market

Oil and Gas

Construction

Transport

Industrial

Power and Water

List of Tables

List of Tables

Table 1 Top Projects

Table 2 Biggest planned and un-awarded projects in Iraq

Table 3 Top Oil and Gas Sector Projects

Table 4 Biggest planned and un-awarded Oil and Gas projects in Iraq Due in Bidding Stage

Table 5 Biggest planned and un-awarded Oil and Gas projects in Iraq at Design, FEED or Study Stage

Table 6 Top Construction Sector Projects

Table 7 Biggest planned and un-awarded Construction projects in Iraq Due in Bidding Stage

Table 8 Biggest planned and un-awarded Construction projects in Iraq at Design, FEED or Study Stage

Table 9 Top Transport Sector Projects

Table 10 Biggest planned and un-awarded Transport projects in Iraq Due in Bidding Stage

Table 11 Biggest planned and un-awarded Transport projects in Iraq at Design, FEED or Study Stage

Table 12 Top Industrial Sector Projects

Table 13 Biggest planned and un-awarded Industrial projects in Iraq at Design, FEED or Study Stage

Table 14 Top Power and Water Sector Projects

Table 15 Biggest planned and un-awarded Power and Water projects in Iraq Due in Bidding Stage

Table 16 Biggest planned and un-awarded Power and Water projects in Iraq at Design, FEED or Study Stage

List of Figures

List of Figures

Figure 1 Iraq country map

Figure 2 GDP by sector, 2020 (%)

Figure 3 Iraq Nominal GDP vs. GDP Growth, 2012-24

Figure 4 Iraq budget, 2012-22 (IQD bn)

Figure 5 Gulf Projects Index Value of all projects in Iraq ($m)

Figure 6 Projects market by project status ($m)

Figure 7 Projects market by sector ($m)

Figure 8 Value of contract awards by year ($m)

Figure 9 Value of contract awards by year and sector ($m)

Figure 10 Value of contracts awarded in Iraq in July to December, 2012-21 ($m)

Figure 11 Number of Contracts Awarded 2012-21

Figure 12 Biggest clients in Iraq by value of contracts in execution ($m)

Figure 13 Biggest contractors in Iraq by contracts in execution ($m)

Figure 14 Projects planned but unawarded by status ($m)

Figure 15 Projects planned but unawarded by sector ($m)

Figure 16 Biggest clients in Iraq by value of contracts planned ($m)

Figure 17 Value of Oil and Gas contract awards by year ($m)

Figure 18 Oil and gas projects market by project status ($m)

Figure 19 Oil and gas projects market by subsector (%)

Figure 20 Value of Oil and Gas contract awards by year and subsector ($m)

Figure 21 Biggest Oil and Gas Sector clients in Iraq by value of contracts in execution ($m)

Figure 22 Biggest Oil and Gas Sector contractors in Iraq by contracts in execution ($m)

Figure 23 Oil and Gas Projects planned but unawarded by status ($m)

Figure 24 Oil and Gas Sector Projects planned but unawarded by subsector ($m)

Figure 25 Biggest Oil and Gas Sector Future Clients

Figure 26 Value of Construction contract awards by year ($m)

Figure 27 Construction projects market by project status ($m)

Figure 28 Construction projects market by subsector (%)

Figure 29 Value of Construction contract awards by year and subsector ($m)

Figure 30 Biggest Construction Sector clients in Iraq by value of contracts in execution ($m)

Figure 31 Biggest Construction Sector contractors in Iraq n by contracts in execution ($m)

Figure 32 Construction Projects planned but unawarded by status ($m)

Figure 33 Construction Sector Projects planned but unawarded by subsector ($m)

Figure 34 Biggest Construction Sector Future Clients

Figure 35 Value of Transport contract awards by year ($m)

Figure 36 Transport projects market by project status ($m)

Figure 37 Transport projects market by subsector (%)

Figure 38 Value of Transport contract awards by year and subsector ($m)

Figure 39 Biggest Transport Sector clients in Iraq by value of contracts in execution ($m)

Figure 40 Biggest Transport Sector contractors in Iraq by contracts in execution ($m)

Figure 41 Transport Projects planned but unawarded by status ($m)

Figure 42 Transport Sector Projects planned but unawarded by subsector ($m)

Figure 43 Biggest Transport Sector Future Clients

Figure 44 Value of Industrial contract awards by year ($m)

Figure 45 Industrial projects market by project status ($m)

Figure 46 Industrial projects market by subsector (%)

Figure 47 Value of Industrial contract awards by year and subsector ($m)

Figure 48 Biggest Industrial Sector clients in Iraq by value of contracts in execution ($m)

Figure 49 Biggest Industrial Sector contractors in Iraq by contracts in execution ($m)

Figure 50 Industrial Projects planned but unawarded by status ($m)

Figure 51 Industrial Sector Projects planned but unawarded by subsector ($m)

Figure 52 Biggest Industrial Sector Future Clients

Figure 53 Value of Power and Water contract awards by year ($m)

Figure 54 Power and Water projects market by project status ($m)

Figure 55 Power and Water projects market by subsector (%)

Figure 56 Value of Power and Water contract awards by year and subsector ($m)

Figure 57 Biggest Power and Water Sector clients in Iraq by value of contracts in execution ($m)

Figure 58 Biggest Power and Water Sector contractors in Iraq by contracts in execution ($m)

Figure 59 Power and Water Projects planned but unawarded by status ($m)

Figure 60 Power and Water Sector Projects planned but unawarded by subsector ($m)

Figure 61 Biggest Power and Water Sector Future Clients

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