Iraq Oil and Gas Report Q4 2016

Date: August 24, 2016
Pages: 78
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Major oilfield expansion projects in Iraq will be an important source of low-cost oil production to meet future demand. We expect continued growth in output from 2017.Natural gas imports from Iran starting in 2016 will play a significant role in meeting demand from the power sector, while exports are set from the KRG to Turkey in 2019.

We highlight the following trends and developments in Iraq's oil and gas sector:
  • H116 oil production in Iraq has averaged 4.267mn b/d, with 3.256mn b/d exported from Basra and 0.467mn b/d from the KRG.
  • The government has reportedly come to an agreement with BP, Shell and Lukoil to restart investment to increase output from their major fields. This should support around 250,000b/d of new production in 2017.
  • Halfaya phase III is reportedly close to sanction, increasing output from 200,000b/d to 400,000b/d by 2018.
  • Exxon & PetroChina are reportedly in talks with the government to boost production from the Nahr Umr and Artawi oil fields.
  • An attack on the Bai Hassan oil field and a second site in Northern Iraq has taken out approximately 75,000b/d from two well sites.
  • Shell supplied associated gas from its Majnoon field to the power sector for the first time in February, at a rate of around 715mn cubic metres per year.
  • Genel is expecting the field development plan for the Miran/Bina Bawi development to be approved in Q216.
  • Gas delivery from Iran to three gas power plants in Sadr, Baghdad and Al-Mansouriyah is due to begin in H216. Initially at 5-7Mcm/d, deliveries could rise to 25-35Mcm/d.
BMI Industry View
  Table: Headline Forecasts (Iraq 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Latest Updates
Structural Trends
  Table: Kurdistan Blocks And Operator
Upstream Projects
  Table: Iraq - Major Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Oil Production (Iraq 2014-2019)
  Table: Oil Production (Iraq 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Iraq 2014-2019)
  Table: Gas Production (Iraq 2020-2025)
Latest Updates
Structural Trends
  Table: Refining Capacity and Refined Products Production (Iraq 2014-2019)
  Table: Refining Capacity and Refined Products Production (Iraq 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Iraq 2014-2019)
  Table: Refined Products Consumption* (Iraq 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Iraq 2014-2019)
  Table: Gas Consumption (Iraq 2020-2025)
Trade - Oil
Latest Updates
Crude Oil Trade Outlook
Structural Trends
  Table: Basra Splits
  Table: Crude Oil Net Exports (Iraq 2014-2020)
  Table: Crude Oil Net Exports (Iraq 2020-2025)
Refined Fuels Trade Outlook
Structural Trends
  Table: Refined Fuels Net Exports (Iraq 2014-2019)
  Table: Refined Fuels Net Exports (Iraq 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Iraq 2014-2019)
  Table: Gas Net Exports (Iraq 2020-2025)
Industry Risk Reward Index
Middle East - Oil & Gas Risk/Reward Index
  Table: Middle East Oil & Gas Risk/Reward Index
Upstream: Index Resilient In Lower Price Environment
  Table: Middle East Upstream Oil & Gas Risk/Reward Index
Downstream: Limited Opportunities
  Table: Middle East Downstream Oil & Gas Risk/Reward Index
Iraq - Risk/Reward Index
Market Overview
Iraq Energy Market Overview
Regulatory Structure
Fiscal Regime
  Table: Federal Government Technical Service Agreements
  Table: KRG Production Sharing Agreements
Licensing Regime
Licensing Rounds
  Table: Fields Licensed Under First Bidding Round (June 2009)
  Table: Fields Licensed Under Second Bidding Round (December 2009)
  Table: Fields Licensed Under Third Bidding Round (October 2010)
Oil And Gas Infrastructure
Oil Refineries
  Table: Iraqi Refineries
  Table: Planned Refineries In Iraq
Oil Terminals/Ports
Oil Pipelines
  Table: Major Iraqi Pipelines
Gas Pipelines
Regional Overview
Middle East Oil & Gas Regional Overview
Oil Production: Output On Upward Trajectory
Oil Consumption: Gas And Subsidy Reform Tempering Demand
  Table: Gasoline-95 Pump Price June 2015 & March 2016 (USD/Litre)
Refining Capacity: Mega Refineries To Outcompete
Gas Production: Upstream Focus Swaying To Gas
Gas Consumption: Industrial Growth And Power Drive Demand
  Table: Middle East Oil & Gas Production, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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