Abstract
Iraq Oil and Gas Exploration and Production Industry Investment Opportunities,
Analysis and Forecasts of All Active and Planned Exploration Blocks and Oil
and Gas Fields to 2012
Summary
This profile is the essential source for top-level industry data and
information relating to the Exploration and Production industry in Iraq. It
provides asset level information relating to the active and planned oil and
gas fields and exploration blocks in Iraq. The profiles of the major companies
operating in the upstream industry of Iraq are also included in the report.
The latest news and deals pertaining to the sector are also provided and
analyzed.
Scope
・ Updated information relating to all active and planned exploration
blocks.
・ Provides historical and forecast data and information for all
the major operating and planned crude oil and natural gas fields.
・
Details operators and equity partners of oil and gas fields and exploration
blocks.
・ Includes information relating to license round details, start
and end dates, acreage, location, and reserves.
・ Information on the top
companies in the sector including business description, strategic analysis,
and financial information.
・ Product and brand updates, strategy changes,
R&D projects, corporate expansions and contractions and regulatory
changes.
・ Key mergers and acquisitions, partnerships, private equity
investments and IPOs.
Reasons to buy
・ Obtain the most up to date information available on exploration licenses and
oil and gas fields.
・ Identify growth markets and opportunities in the
industry.
・ Facilitate market analysis and forecasting of future industry
trends.
・ Facilitate decision making on the basis of strong historic and
forecast data data.
・ Assess your competitor' s exploration and production
asset portfolio.
・ Understand and respond to your competitors business
structure, strategy and prospects.
・ Develop strategies based on the
latest operational, financial, and regulatory events.
・ Do deals with an
understanding of how competitors are financed, and the mergers and
partnerships that have shaped the market.
・ Identify and analyze the
strengths and weaknesses of the leading companies.
Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 9
2
Introduction 10
2.1 What Is This Report About? 10
2.2 How To Use This
Report 10
2.3 Market Definition 10
3 Iraq, Country Snapshot 11
3.1
Iraq, Key Data 11
3.2 Iraq, Exploration And Production Assets Map 12
3.3 Iraq, Crude Oil & Natural Gas Reserves 13
4 Iraq, Crude Oil And
Natural Gas Production 15
4.1 Iraq, Historical Crude Oil Production 15
4.2 Iraq, Historical Natural Gas Production 16
4.3 Iraq, Crude Oil And
Natural Gas Producing Asset Details 17
4.4 Iraq, Crude Oil Production
Assets by Area 18
4.5 Iraq, Natural Gas Production Assets by Area 18
4.6 Iraq, Crude Oil Production by Company 19
4.7 Iraq, Natural Gas
Production by Company 19
5 Iraq, Crude Oil And Natural Gas Forecasts
20
5.1 Iraq, Forecasted Crude Oil Production 20
5.2 Iraq, Forecasted
Natural Gas Production 20
6 Iraq, Exploration Block Details 21
6.1
Iraq, Total Number of Active Exploration Blocks 21
6.2 Iraq, Total Number
of Active Exploration Blocks by Company 22
6.3 Iraq, Exploration Blocks
Details 23
6.4 Iraq, Planned Exploration Blocks Details 24
7 LUKOIL
Oil Company 25
7.1 LUKOIL Oil Company, Key Information 25
7.2 LUKOIL
Oil Company, Company Overview 25
7.3 LUKOIL Oil Company, Business
Description 25
7.3.1 LUKOIL Oil Company, Business Description, Business
Overview 25
7.3.2 LUKOIL Oil Company, Business Description, Chemicals
26
7.3.3 LUKOIL Oil Company, Business Description, Exploration and
Production 26
7.3.4 LUKOIL Oil Company, Business Description, Refining,
Marketing and Distribution 28
7.3.5 LUKOIL Oil Company, Business
Description, Major Products and Services 29
7.4 LUKOIL Oil Company, VALUE
CHAIN ANALYSIS 30
7.4.1 LUKOIL Oil Company, VALUE CHAIN ANALYSIS, Upstream
31
7.4.2 LUKOIL Oil Company, VALUE CHAIN ANALYSIS, Midstream 32
7.4.3
LUKOIL Oil Company, VALUE CHAIN ANALYSIS, Downstream 32
7.4.4 LUKOIL Oil
Company, VALUE CHAIN ANALYSIS, Retail 33
7.5 LUKOIL Oil Company, SWOT
Analysis 34
7.5.1 LUKOIL Oil Company, SWOT Analysis, Overview 34
7.5.2
LUKOIL Oil Company, SWOT Analysis, Strengths 34
7.5.3 LUKOIL Oil Company,
SWOT Analysis, Weaknesses 35
7.5.4 LUKOIL Oil Company, SWOT Analysis,
Opportunities 36
7.5.5 LUKOIL Oil Company, SWOT Analysis, Threats 37
7.6 LUKOIL Oil Company, Revenue Analysis 38
7.6.1 LUKOIL Oil Company,
Revenue Analysis, Revenue by Segment 38
7.6.2 LUKOIL Oil Company, Revenue
Analysis, Revenue by Geography 38
7.7 LUKOIL Oil Company, Financial and
Operational Review 40
7.7.1 LUKOIL Oil Company, Financial and Operational
Review, Financial Statements 40
7.7.2 LUKOIL Oil Company, Financial and
Operational Review, Financial Ratios 41
7.8 LUKOIL Oil Company,
Operational Indicators 42
8 MOL Group 43
8.1.1 MOL Group, Key
Information 43
8.2 MOL Group, Company Overview 43
8.3 MOL Group,
Business Description 43
8.3.1 MOL Group, Business Description, Business
Overview 43
8.3.2 MOL Group, Business Description, Exploration and
Production 43
8.3.3 MOL Group, Business Description, Natural Gas 45
8.3.4 MOL Group, Business Description, Petrochemicals 46
8.3.5 Refining
and Marketing 48
8.3.6 MOL Group, Business Description, Major Products and
Services 49
8.4 MOL Group, VALUE CHAIN ANALYSIS 51
8.4.1 MOL Group,
VALUE CHAIN ANALYSIS, Upstream 51
8.5 MOL Group, VALUE CHAIN ANALYSIS,
Midstream 52
8.5.2 MOL Group, VALUE CHAIN ANALYSIS, Downstream 53
8.5.3 MOL Group, VALUE CHAIN ANALYSIS, Retail 53
8.6 MOL Group, SWOT
Analysis 54
8.6.1 MOL Group, SWOT Analysis, Overview 54
8.6.2 MOL
Group, SWOT Analysis, Strengths 54
8.6.3 MOL Group, SWOT Analysis,
Weaknesses 56
8.6.4 MOL Group, SWOT Analysis, Opportunities 56
8.6.5
MOL Group, SWOT Analysis, Threats 57
8.7 MOL Group, Revenue Analysis
58
8.7.1 MOL Group, Revenue Analysis, Revenue by Segment 58
8.7.2 MOL
Group, Revenue Analysis Revenue by Geography 59
8.8 MOL Group, Financial
and Operational Review 61
8.8.1 MOL Group, Financial and Operational
Review, Financial Statements 61
8.8.2 MOL Group, Financial and Operational
Review, Financial Ratios 62
8.9 MOL Group, Operational Indicators 63
9
Iraq Exploration and Production Industry,News and Deals 64
9.1 Acquisition
64
9.1.1 Tower Resources Acquires Comet Petroleum 64
9.2 Partnership
65
9.2.1 Petrel Resources And Makman Oil Enter Into Joint Venture 65
9.2.2 Mesopotamia Petroleum Forms Joint Venture With Iraq Drilling Company
66
9.3 Asset Transactions 67
9.3.1 Addax Petroleum Acquires An
Additional 15% Participating Interest from Genel 67
9.3.2 Arrakis
Geodynamics And Polaris Explorer To Acquire 2D Seismic In The Shaikan Block
68
9.3.3 Talisman Energy To Acquire Interests In Blocks K44 and K39 From
Kurdistan Regional Government 70
10 Iraq Exploration and Production
Industry, Recent Developments 72
10.1 License Rounds 72
10.1.1 Jun 30,
2008: Iraq Opens Bids On Eight Oil And Natural Gas Fields 72
10.1.2 Jun
30, 2008: Iraq Unveils Six Oilfield Areas Open For Long-Term Development
Contracts 74
10.1.3 Jun 22, 2008: Iraq Qualifies Six More Companies For
Oil And Gas Contracts 75
10.1.4 Jun 16, 2008: Iraq To Initiate First
Post-War Oil Bid Round By Next Month 75
10.1.5 Jun 09, 2008: Iraq To
Announce First Round Of Tenders On Exploration Rights 76
10.1.6 May 19,
2008: Iraq To Issue New List Of Pre-Qualified Companies To Bid For Oil Deals
77
10.1.7 May 06, 2008: Iraq To Invite Global Bids To Develop 10 Oil
Fields 78
10.1.8 Apr 14, 2008: Iraq Lists 35 Firms To Bid For Oil And Gas
Contracts 79
10.1.9 Apr 11, 2008: Iraq To Announce Companies Qualified To
Bid For Tenders 80
10.1.10 Mar 24, 2008: Iraq Invites Oil Firms To Develop
Sunni Area 80
10.1.11 Jan 22, 2008: Iraq Extends Oil Contracts Deadline To
February 18, 2008 81
10.1.12 Jan 02, 2008: Iraq Invites International Oil
Companies To Develop Its Oil Fields 81
10.2 License Awards 81
10.2.1
Sep 01, 2008: BP And Anadarko Submit Bids For Exploring Jordan' s Risha Gas
Field 81
10.2.2 Jul 03, 2008: Four Chinese Oil Firms To Bid For Oil And
Gas Rights In Iraq 82
10.2.3 Jun 25, 2008: KNOC Receives Two PSCs With KRG
82
10.2.4 Jun 23, 2008: Talisman Signs Two Agreements With KRG 82
10.2.5 Jun 19, 2008: Four Western Oil Firms To Sign Oil Contracts With Iraq
83
10.2.6 May 20, 2008: Niko Enters Into First PSC In Kurdistan 83
10.2.7 May 18, 2008: Iraq Asks International Oil Firms To Submit Final Deal
Proposals 84
10.2.8 May 12, 2008: Oil Search Signs PSC With KRG For Shakal
Block 86
10.2.9 Apr 29, 2008: Eni To Bid For Oil Contracts In Iraq 87
10.2.10 Apr 21, 2008: Eni Bids For Oil Development Contracts In Iraq 87
10.2.11 Apr 16, 2008: Iraq To Allow Oil, Gas Exploration At Six Fields In New
Licensing Round 88
10.2.12 Apr 15, 2008: Iraq Says Four Chinese Companies
Being Qualified For Oil Contracts 89
10.2.13 Apr 14, 2008: OVL Qualifies
For Oil And Gas Contracts In Iraq 89
10.3 Strategy and Business Expansion
90
10.3.1 Aug 20, 2008: BP And Iraq Continue Discussions On Short-Term Oil
Service Contract 90
10.3.2 Aug 10, 2008: Eni And Iraqi Officials Discuss
Cooperation In Oil, Gas Sector 90
10.3.3 Jul 06, 2008: Total On Verge Of
Signing Service Contracts In Iraq 90
10.3.4 Jul 01, 2008: DNO To Stay Out
Of New Iraqi Bids 91
10.3.5 Jul 01, 2008: Total Unlikely To Sign Big Iraq
Deals In 2009 91
10.3.6 Apr 21, 2008: TPAO To Cooperate On Oil Exploration
In Iraq 92
10.3.7 Apr 12, 2008: Chevron In Talks With Iraq To Enhance
Output In Oil Field 92
10.3.8 Mar 25, 2008: Lukoil Enters Agreement With
Iraq To Work On West Qurna 2 Project 93
10.3.9 Jan 08, 2008: RIL To
Develop Oil Assets In Iraq 93
10.3.10 Nov 12, 2007: Sterling Signs PSC For
Sangaw North Exploration Block 93
10.3.11 Nov 08, 2007: RIL Wins Two
Production Sharing Contracts In Iraq 94
10.3.12 Nov 07, 2007: MOL Signs
Two PSCs With KRG 94
10.3.13 Nov 06, 2007: OMV' s Subsidiary Signs PSCs For
Two Exploration Blocks In Kurdistan 94
10.4 Drilling and Production
Updates 95
10.4.1 Sep 08, 2008: WesternZagros Updates On Sarqala-1 Well In
Iraq 95
10.4.2 Aug 14, 2008: Dana Gas To Start Production From Gas Field
In Northern Iraq In September 2008 95
10.4.3 May 27, 2008: OMV Plans To
Drill Two Wells In Iraq Next Year 96
10.4.4 May 08, 2008: WesternZagros
Commences Drilling At Sarqala-1 Well, Kurdistan 96
10.4.5 Mar 06, 2008:
Addax Updates On Taq Taq Field 96
10.4.6 Jan 21, 2008: Addax Petroleum
Updates On Flow Test Results Of TT-09 Well 97
10.4.7 Dec 18, 2007: DNO
Updates On Tawke Field Reserves 98
10.5 Other Significant Developments
99
10.5.1 Sep 03, 2008: Iraq To Earn $63 Billion From Contract Signed With
CNPC On Ahdab Field 99
10.5.2 Aug 28, 2008: Iraq, China Revive $3 Billion
Oil Service Contract 100
10.5.3 Aug 27, 2008: Iraq Rises Its Oil Exports
To 58.8 Million Barrels In July 2008 101
10.5.4 Aug 25, 2008: Iraq To
Examine Possibility Of Developing Gas Fields In The Nation 101
10.5.5 Aug
19, 2008: Iraq To Renegotiate Oil Service Contract With China 102
10.5.6
Aug 19, 2008: Iraq In Final Stages Of Negotiations On Gas Project 102
10.5.7 Aug 18, 2008: Iraq To Abandon Plans To Sign Short Term Deals 102
10.5.8 Aug 10, 2008: Iraq Plans To Revive An Oil Deal With China 103
10.5.9 Aug 06, 2008: Iraqi Oil Ministry To Carry On Oil Exploration After 20
Years 104
10.5.10 Jul 21, 2008: Iraq Urges International Oil Firms To
Revise Proposals For Service Contracts 104
10.5.11 Jul 07, 2008: Iraq To
Raise Its Oil Output To 3 Million Bpd By 2009 104
10.5.12 Jun 27, 2008:
Japan To Help Iraq In Reconstructing Oil, Gas Industry 105
10.5.13 Jun 27,
2008: Iraq To Set Up New Oil Company 105
10.5.14 Jun 25, 2008: Gulf
Keystone Updates On Shaikan And Akri-Bijeel Blocks 106
10.5.15 Jun 19,
2008: Heritage Oil Provides Operational Update 107
10.5.16 Jun 16, 2008:
Iraq Launches Tender For Two Deep Exploration Wells 108
10.5.17 Jun 16,
2008: Iraq To Include Turkey Companies In Energy Tenders 109
10.5.18 Jun
10, 2008: BPCL Resumes Crude Imports From Iraq After Two Years 109
10.5.19
May 02, 2008: Iraq In Talks With Oil Firms To Develop Prized Oil Fields
110
10.5.20 Apr 01, 2008: Shell Willing To Help Iraq Boost Oil Output
111
10.5.21 Mar 24, 2008: Iraq May Pay $2.5 Billion To Increase Its Oil
Output 111
10.5.22 Mar 14, 2008: DNO Updates On Kurdistan Projects 111
10.5.23 Mar 06, 2008: Iraq To Double Oil Production Within Next Two Years
112
10.5.24 Mar 05, 2008: Iraq To Start Signing Agreements With Oil Firms
To Increase Output 113
10.5.25 Dec 15, 2007: Fears Of Attack Grow Amid
Iraq' s Thriving Oil Production 113
10.6 New Contracts Announcements
113
10.6.1 Feb 29, 2008: Addax Enters Agreement With Kurdistan Regional
Government 113
10.6.2 Feb 20, 2008: Petrel Renews Agreements With Iraq
114
10.6.3 Oct 02, 2007: Heritage Executes Production Sharing Contract
With KRG In Iraq 114
11 Appendix 116
11.1 Methodology 116
11.1.1
Coverage 117
11.1.2 Secondary Research 117
11.1.3 Primary Research
118
11.1.4 Forecasts 118
11.2 Key Economic Assumptions 120
11.3
Expert Panel Validation 121
11.4 Definitions 121
11.5 Unit of Measure
122
11.6 Contact Us 123
11.7 Disclaimer 123
1.1 List of
Tables
Table 1: Iraq, Oil and Gas, Key Statistics, April 2008 11
Table
2: Iraq, Total Crude Oil and Natural Gas Reserves, 2000-2012 14
Table 3:
Iraq, Total Crude Oil Production (MMBBLs), 2000-2007 15
Table 4: Iraq,
Total Natural Gas Production (BCF), by Assets, 2000-2007 16
Table 5: Iraq,
Oil and Gas Asset Details, April 2008 17
Table 6: Iraq Onshore, Total
Crude Oil Production (Barrels), by Assets, 2000-2007 18
Table 7: Iraq
Onshore, Total Natural Gas Production (MMCF), by Assets, 2000-2007 18
Table 8: Iraq, Total Crude Oil Production (MMBBLs), by Company, 2000-2007
19
Table 9: Iraq, Total Natural Gas Production (BCF), by Company,
2000-2007 19
Table 10: Iraq, Total Crude Oil Production (MMBBLs),
Forecast, 2008-2013 20
Table 11: Iraq, Total Natural Gas Production (BCF),
Forecast, 2008-2013 20
Table 12: Iraq, Total Number of Active Exploration
Blocks, 2000-2007 21
Table 13: Iraq, Total Number of Active Exploration
Blocks By Company, 2000-2007 22
Table 14: Iraq, Oil and Gas Exploration
Blocks Details, April 2008 23
Table 15: Iraq, Oil and Gas Exploration
Blocks Details, April 2008 (Cont' d) 24
Table 16: Iraq, Oil and Gas Planned
Exploration Block Details, April 2008 24
Table 17: LUKOIL Oil
Company,Key Facts, 2007 25
Table 18: LUKOIL Oil Company, SWOT
Analysis , 2007 34
Table 19: LUKOIL Oil Company, Revenue by Segment,
USD Million, 2003-2007 38
Table 20: LUKOIL Oil Company, Revenue by
Geography, USD Million, 2003-2007 39
Table 21: LUKOIL Oil Company,
Financial Statements, USD Million, 2003-2007 40
Table 22: LUKOIL Oil
Company, Financial Ratios, USD Million, 2003-2007 41
Table 23: LUKOIL
Oil Company Operational Indicators, 2003-2007 42
Table 24: MOL
Group,Key Facts, 2007 43
Table 25: MOL Group, SWOT Analysis , 2007
54
Table 26: MOL Group, Revenue by Segment, Hungarian Forint Million,
2003-2007 59
Table 27: MOL Group, Revenue by Geography, Hungarian
Forint Million, 2003-2007 60
Table 28: MOL Group, Financial
Statements, Hungarian Forint Million, 2003-2007 61
Table 29: MOL
Group, Financial Ratios, Hungarian Forint Million, 2003-2007 62
Table 30:
MOL Group Operational Indicators, 2003-2007 63
Table 31: Brent
Blend NYMEX Future Prices 120
1.2 List of Figures
Figure 1:
Iraq, Exploration and Production Assets Map, April 2008 12
Figure 2: Iraq,
Total Crude Oil Production (MMBBLs), 2000-2007 15
Figure 3: Iraq, Total
Natural Gas Production (MMCF), 2000-2007 16
Figure 4: Iraq, Total
Number of Active Exploration Blocks, 2000-2007 21
Figure 5: LUKOIL
Oil Company, Value Chain Analysis 30
Figure 6: MOL Group, Value Chain
Analysis 51
Figure 7: Global Markets Direct Methodology 116
