Iraq Oil and Gas Exploration and Production Market Volumes and Forecast by Terrain, Assets and Major Companies, 2021-2025

Pages: 48 Published: March 08, 2022 Report Code: GDOG097EP

Crude oil production in Iraq’s oil and gas exploration and production market in 2021 is estimated to have increased by more than 2% from previous year, reaching 4.38 million barrels per day (mmbd). The outlook for Iraq’s crude oil production looks strong. The growth in production is forecast to continue out to 2025 as the output from Rumaila, Zubair, West Qurna-1 & 2 fields is estimated to near plateau in mid-2020s.

However, the increase of crude oil production especially from Basra’s fields is conditioned upon Iraq’s ability to provide additional water for reservoirs injection. The significant project for processing seawater, knows as the Common Seawater Supply Project (CSSP), has faced several delays over the last decade, pushing IOC to undertake temporary measures including the use of ground water for injection.

What are the market dynamics in the Iraq oil and gas exploration and production industry?

There are three planned or announced projects expected to come online between 2022 and 2025 in Iraq oil and gas exploration and production market. One of these projects is Eridu giant oilfield, which was discovered in 2016. The other significant project is Akkas gas field which considered to be the largest non-associated gas field in the country. Back in 2011, Kogas signed a contract with the Iraqi government to develop the fields, but the scheme was put on hold due to ISIS capturing of Al-Anbar region in 2014. The field was recaptured by the Iraqi forces in 2017, but its development scheme has not seen any progress since then. In 2021, the Iraqi government decided to accelerate the field development, and it has been reported that Saudi Delta Oil Company held talks to develop the field along with Schlumberger.

In November 2021, the Iraqi cabinet announced that it authorized the Iraq National Oil Company (INOC) to negotiate with Chevron to develop oil and gas fields in the southern province of Dhi Qar. The negotiations cover four exploration blocks known as Nasiriyah fields. The negotiations will also consider the construction of water injection facilitates at the site.

What are the key assets in the Iraq oil and gas exploration and production market?

The key assets in the Iraq oil and gas exploration and production market are Rumaila, Zubair, West Qurna-1, West Qurna-2, Halfaya, Missan, Majnoon, Kirkuk, Garraf, and Nasiriya.

Iraq oil and gas exploration and production market, by assets

Iraq oil and gas exploration and production market, by assets

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Which are the key companies in the Iraq oil and gas exploration and production market?

Some of the key companies in the Iraq oil and gas exploration and production market are Ministry of Oil, Iraq, Dhi Qar Oil Co, QatarEnergy, KAR Group, TotalEnergies SE, China National Petroleum Corp, BP Plc, China ZhenHua Oil Co Ltd, and Petroliam Nasional Bhd.

Iraq oil and gas exploration and production market, by key companies

Iraq oil and gas exploration and production market, by key companies

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Market report scope

Key asset Rumaila, Zubair, West Qurna-1, West Qurna-2, Halfaya, Missan, Majnoon, Kirkuk, Garraf, and Nasiriya
Key companies Ministry of Oil, Iraq, Dhi Qar Oil Co, QatarEnergy, KAR Group, TotalEnergies SE, China National Petroleum Corp, BP Plc, China ZhenHua Oil Co Ltd, and Petroliam Nasional Bhd

Scope

  • Iraq’s oil and gas production outlook by assets terrain, and major companies
  • Key details of active and upcoming oil and gas assets in the country
  • Recently licensed blocks details, licensed blocks count by company, and latest discoveries
  • Latest mergers and acquisitions related to the E&P sector in the country

Reasons to Buy

  • Gain a strong understanding of the Iraq’s E&P sector
  • Facilitate decision making based on strong historical and outlook of oil and gas production data, licensed blocks details, and discoveries
  • Assess your competitor’s production outlook and licensed blocks count in the country
  • Analyze latest M&A landscape related to the country’s E&P sector

Table of Contents

Table of Contents

Iraq Exploration and Production Sector 6

Iraq Exploration and Production Sector, Oil and Gas Production Outlook 8

Iraq Exploration and Production Sector, Marketed Natural Gas Production by Terrain 10

Iraq Exploration and Production Sector, Gross Crude Oil and Condensate Production by Assets 12

Iraq Exploration and Production Sector, Marketed Natural Gas Production by Assets 15

Iraq Exploration and Production Sector, Net Entitlement Crude Oil and Condensate Production by Major Companies 17

Iraq Exploration and Production Sector, Net Entitlement Natural Gas Production by Major Companies 21

Iraq Exploration and Production Sector, Active and Upcoming Oil and Gas Asset Details 23

Iraq Exploration and Production Sector, Exploration 33

Iraq Exploration and Production Sector, Total Licensed Blocks 33

Iraq Exploration and Production Sector, Licensed Blocks by Company 33

Iraq Exploration and Production Sector, Exploration 36

Iraq Exploration and Production Sector, Exploration Details, Exploration 36

Iraq Exploration and Production Sector, Major Oil and Gas Discoveries 38

Iraq Exploration and Production Sector, Number of Oil and Gas Discoveries, 2017 – 2021 38

Iraq Exploration and Production Sector, Oil and Gas Discovery Details 40

Recent Contracts 41

Recent M&A Activity 46

Appendix 47

Methodology 47

Coverage 47

Secondary Research 47

|Contact Us 48

List of Tables

Iraq, Total Gross Crude Oil and Condensate Production (bd) by Terrain, 2016-2025 9

Iraq, Marketed Natural Gas Production by Terrain (mmcfd), 2016-2025 11

Iraq, Gross Crude Oil and Condensate Production (bd), by Assets, 2016-2025 13

Iraq, Marketed Natural Gas Production (mmcfd), by Assets, 2016-2026 16

Iraq, Net Entitlement Crude Oil and Condensate Production (bd), by Major Companies, 2016 – 2025 18

Iraq, Net Entitlement Natural Gas Production (mmcfd), by Major Companies, 2016 – 2025 22

Iraq, Active and Upcoming Oil and Gas Field Assets Details 24

Iraq, Total Licensed Blocks, 2010-2020 33

Iraq, Licensed Blocks by Company, 2010-2020 33

Iraq, Recently Licensed Block Details 36

Iraq, Number of Oil and Gas Discoveries, 2017 – 2021 39

Iraq, Oil and Gas Discovery Details, 2017 – 2021 40

Recent Contracts 41

Recent M&A Activity 46

List of Figures

Iraq, Total Gross Crude Oil and Condensate Production (bd) by Terrain, 2016-2025 8

Iraq, Marketed Natural Gas Production by Terrain (mmcfd), 2016-2025 10

Top 10 Fields in Iraq by 2020 Crude Oil Production 12

Top 10 Fields in Iraq by 2020 Natural Gas Production 15

Top 10 Companies in Iraq by 2020 Crude Oil and Condensate Production 17

Top 10 Companies in Iraq by 2020 Natural Gas Production 21

Iraq, Active and Upcoming Oil and Gas Assets by Production Start Year 23

Iraq, Number of Oil and Gas Discoveries, 2017 – 2021 38

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