Iraq Oil and Gas Projects Market Report 2013

Published: August 2013
No. of Pages:
   

A comprehensive overview of Iraq’s oil and gas sector, covering upstream production, pipeline and export infrastructure, refineries and petrochemical plants

With its enormous reserves, and equally big ambitions, the Iraqi oil and gas sector is now opening up for business. The government is preparing a massive infrastructure expansion programme with oil at its centre. Iraq is planning an unprecedented expansion of its oil and gas production, lifting output to more than 12 million barrels a day (b/d) with the help of more than a dozen international oil companies (IOCs).

Covering all aspects of the $140bn-plus Iraqi oil and gas sector, the latest research report by MEED Insight, Iraq Oil and Gas Projects 2013, highlights government policy, key areas of spending, major project plans and opportunities along with macroeconomic and political data.

Through this comprehensive report you will be able to:

  • Identify key project opportunities in Iraq’s $140bn-plus oil sector
  • Quantify the upstream, midstream and downstream markets
  • Access macroeconomic and political data
  • Understand the challenges facing the sector
  • Gain in-depth understanding and win work in Iraq

Iraq Oil and Gas Projects Market Report 2013

Table of Contents

1. Preface

2. Executive Summary  13

3. Introduction  16
3.1 Geography and demographics  .16
3.2 Recent history .18
3.3 Economy   .19
3.4 Government structure  .21
3.4.1 Federal government  .21
3.4.2 Government of the Kurdistan region  .23
3.5 Key challenges for Iraq   .24
3.5.1 The challenge of regionalism  .24
3.5.2 2014 parliamentary elections  .26
3.5.3 Relations with Iran   .27
3.5.4 Security .28
3.5.5 Corruption   .34

4. Overview of the Iraq oil industry  35
4.1 Brief history of the oil sector  .35
4.2 Oil Industry structure  .37
4.2.1 The Kurdish exception .38
4.2.2 The status of Kirkuk  .39
4.2.3 Oil exports and the State Oil Marketing Organisation   .41
4.2.4 Transparency .42
4.3 Oil revenues .43
4.3.1 Iraq’s dependence on oil revenues  .43
4.3.2 Restoring control over oil revenues  .44
4.3.3 Revenue sharing between the KRG and Baghdad   .  .44
4.4 Legal framework  .45
4.5 The procurement process  .47
4.5.1 The challenge for contractors .49
4.6 Logistical obstacles .50
4.6.1 Drilling rigs  .50
4.6.2 Customs and equipment  .53
4.7 Construction opportunities .55
4.7.1 Petrofac .61
4.7.2 Saipem  .63
4.7.3 Samsung Engineering .64
4.7.4 Technip  .65
4.7.5 Chinese contractors  .66

5. Upstream Oil & Gas 69
5.1 Upstream Oil  .69
5.1.1 Oil reserves   .69
5.1.2 Oil production.70
5.1.3 Regional comparison  .73
5.2 Upstream gas .76
5.3 Developing Iraq’s oil and gas reserves    .83
5.3.1 Al-Ahdab  .83
5.4 Bid round one .84
5.4.1 Controversy over the Rumaila contract   .85
5.4.2 Progress since bidding round one   .86
5.4.3 Missan .86
5.4.4 Rumaila .88
5.4.5 West Qurna-1.90
5.4.6 Zubair  .91
5.5 Bid round two .92
5.5.1 Contract terms  .93
5.5.2 Progress since bidding round two    .93
5.5.3 Badra   .94
5.5.4 Gharraf  .95
5.5.5 Halfaya  .96
5.5.6 Majnoon  .98
5.5.7 Najma and Qayara   .99
5.5.8 West Qurna-2  .100
5.6 Bid round three  .102
5.6.1 Akkaz gas field   .  .104
5.6.2 Mansouriya gas field .108
5.7 Bid round four .110
5.7.1 Blocks awarded in round four  .112
5.8 Future Oil Ministry plans for upstream sector .114
5.8.1 Future upstream projects .117
5.8.2 Future production levels   .117
5.8.3 Pressure to revise contracts .124
5.9 Challenges around increased production  .  .126
5.9.1 Southern oil reservoirs .  .126
5.9.2 Water injection  .129
5.10 Upstream oil in the Kurdistan region  .133
5.10.1 Production sharing contracts .  .134
5.10.2 Tawke  .135
5.10.3 Taq Taq .136
5.10.4 Khurmala Dome   .137
5.10.5 Shaikan .138
5.10.6 Kurdish discoveries .140
5.11 Upstream gas in the Kurdistan region   .144
5.11.1 Khor Mor and Chemchemaal   .144
5.11.2 Miran West and Miran East fields  .146

6. Midstream Oil & Gas  148
6.1 Pipeline security  .149
6.2 Oil pipelines and storage .150
6.2.1 Domestic pipelines and pumping stations .150
6.2.2 Export pipelines   .153
6.2.3 Storage facilities     .154
6.3 Crude oil export terminals  .156
6.3.1 Al-Basra Oil Terminal .156
6.3.2 Khor al-Amaya Oil Terminal .157
6.3.3 Umm Qasr and Khor al-Zubair   .157
6.4 Midstream projects  .158
6.4.1 Domestic pipeline projects .158
6.4.2 Export pipeline projects  .161
6.4.3 Iraq crude oil export expansion project  .161
6.4.4 Other expansion plans in the south  .  .162
6.4.5 Refined products import project    .163
6.4.6 Syriaexport pipelines  .165
6.4.7 Jordan export pipeline  .  .168
6.4.8 Storage facility projects  .173
6.4.9 Pumping station projects  .177
6.5 Midstream gas .  .180
6.5.1 Existing gas pipelines  .180
6.5.2 Gas export pipeline to Kuwait  .182
6.5.3 Current gas treatment facilities  .182
6.5.4 North Gas Company .183
6.5.5 South Gas Company  .184
6.6 Midstream gas projects   .186
6.6.1 Gas processing  .  .189
6.6.2 Gas pipeline projects  .192
6.6.3 South Gas project (Basra Gas Company)  .198
6.6.4 Further criticisms of the Shell deal   .204
6.6.5 Missan gas projects  .205
6.6.6 Gas export options  .205
6.7 Kurdish pipelines .206
6.8 KRG pipeline projects   .207
6.8.1 Kurdistan Iraq crude export pipeline   .207
6.8.2 Shaikan pipeline    .208
6.8.3 Kurdistan-Turkey pipeline  .209
6.8.4 Nabucco gas pipeline  .210

7. Downstream Oil & Gas 213
7.1 Rising demand for refined products    .213
7.2 The rehabilitation challenge .216
7.3 Antiquated design and production .218
7.4 Irregular crude oil supplies .219
7.5 Iraq’s existing refineries  .221
7.5.1 North Refineries Company.222
7.5.2 Midland Refineries Company  .225
7.5.3 South Refineries Company .226
7.5.4 Nasiriyah and other smaller refineries   .227
7.6 Downstream projects  .  .228
7.6.1 Greenfield refinery projects .229
7.6.2 Nasiriyah Integrated Project .231
7.6.3 Karbala refinery    .235
7.6.4 Kirkuk refinery  .237
7.6.5 Missan refinery  .  .239
7.6.6 Other planned refineries: Ninevah and Mosul .241
7.7 Benefits and challenges for greenfield refinery projects  .  .241
7.7.1 Legal framework for investors    .243
7.7.2 Financial challenges .244
7.8 Brownfield refinery projects  .246
7.8.1 North refinery expansion  .247
7.8.2 Daura refinery expansion and rehabilitation    .248
7.9 Petrochemicals  .252
7.9.1 Existing facilities     .252
7.9.2 Petrochemicals projects   .254
7.10 Downstream oil in the Kurdistan region  .259
7.10.1 Erbil refinery.260
7.10.2 Bazian refinery  .260
7.10.3 Other refineries  .  .261
7.10.4 Kurdish refinery projects   .261
7.10.5 Kurdistan petrochemicals .262

List of Tables

Table 1: Snapshot of demographics by province   .17
Table 2: Iraq economic indicators, 2002-12.19
Table 3: Key indicators  .21
Table 4: Branches of government   .21
Table 5: Iraqi government  .22
Table 6: Kurdistan Regional Government  .23
Table 7: Regionalism in Iraq  .26
Table 8: Iraq’s security forces   .33
Table 9: Iraq oil sector timeline   .35
Table 10: Iraq's key NOCs   .40
Table 11: Leading contractors in Iraq .58
Table 12: Middle East market share for European and South Korean contractors    .61
Table 13: Chinese state-owned EPC firms’ contract awards  .66
Table 14: Government budget for state-funded oil and gas projects, 2011-14 ($m)* .68
Table 15: Iraq’s crude oil reserves growth, 1989-2010  .69
Table 16: Distribution of Iraq’s oil reserves, 2010   .70
Table 17: Iraq’s major producing oil fields prior to the concession agreements  .71
Table 18: Total gas reserves .79
Table 19: Iraq’s proven gas reserves  .79
Table 20: Al-Ahdab field contractual commitments  .84
Table 21: Licensing round one  .85
Table 22: Missn field projects.87
Table 23: BP/CNPC Rumaila field contractual commitments   .89
Table 24: Summary of Iraq’s oil field licences .  .92
Table 25: Planned wells .94
Table 26: Badra field projects   .95
Table 27: Gharraf field projects  .95
Table 28: Petrochina second-phase development EPC tenders   .96
Table 29: Lukoil’s major EPC projects in Iraq   .102
Table 30: Gas fields signed under the third licensing round   .103
Table 31: Gas fields signed under the third licensing round   .104
Table 32: Akkaz contractual commitments and timeline  .104
Table 33: Mansouriyah contractual commitments and timeline  .109
Table 34: Siba contractual commitments and timeline  .109
Table 35: Exploration block sizes and prospects  .111
Table 36: Oil and gas prospects    .112
Table 37: Iraq’s fourth licensing round summary   .114
Table 38: State-funded field developments, 2011-14   .116
Table 38: Iraq’s budgeted oil production for 2012  .120
Table 39: Government oil price assumptions, 2010-14 .120
Table 41: Southern oil field reserves and production   .128
Table 42: KRG oil field production  .134
Table 42: Selected Kurdistan region discoveries   .141
Table 44: Iraq’s current pipeline network .149
Table 45: Selected existing major pipelines .151
Table 46: Summary of Iraq’s current southern pipeline network  .152
Table 46: Existing oil export pipelines  .  .154
Table 48: Iraq pipeline projects, 2011-14  .159
Table 48: Planned pipelines.160
Table 49: International oil company pipelines   .160
Table 50: Pipelines currently under construction  .160
Table 51: Government crude export pipeline budget, 2011-14 ($m)   .161
Table 52: Iraq southern oil export terminal capacity expansion projects .164
Table 53: Planned crude oil export pipeline expansion projects  .165
Table 55: Iraq export pipeline infrastructure project   .170
Table 56: Parties to the boot project .170
Table 58: Iraq tank farm projects   .174
Table 59: Selected pipeline and pumping station projects  .  .177
Table 60: Government pumping station budgeted rehabilitation projects, 2011-14  .177
Table 61: Iraq’s crude oil and product pipelines   .179
Table 59: Iraq’s gas pipeline network .181
Table 63: Selected existing gas pipelines .182
Table 64: Iraq’s main gas processing plants .  .183
Table 65: North Gas Company degassing stations  .  .184
Table 66: South Gas Company degassing and compressor stations  .185
Table 64: Planned processing plants  .190
Table 65: Gas pipeline projects, 2011-14 .194
Table 66: Government gas feedstock pipeline budget, 2005-14 ($m)   .194
Table 70: Planned gas pipelines and processing plants  .196
Table 71: Possible KRG pipelines  .209
Table 72: Oil product imports, 2010  .215
Table 73: Output of petroleum products, 2006-10 ('000 b/d)  .217
Table 74: Consumption of petroleum products, 2006-10 ('000 b/d)   .217
Table 75: Opec refining capacity complexity   .219
Table 76: Current installed refineries in Iraq .  .222
Table 77: North Refineries Company facilities  .222
Table 78: North refinery process units .  .223
Table 79: Salahuddin-1 refinery process units  .224
Table 80: Salahuddin-2 refinery process units  .224
Table 79: North Refineries Company’s smaller refineries  .224
Table 80: Midland Refineries Company facilities   .225
Table 81: Daura refinery production units .226
Table 82: South Refineries Company facilities   .226
Table 85: Government allocated budget for downstream projects, 2005-14 ($m)   .230
Table 87: Nasiriyah refinery product slate (using Configuration-3)    .232
Table 88: Prequalified firms for Nasiriyah Integrated Project  .233
Table 89: Nasiriyah refinery technology providers   .234
Table 90: Karbala refinery units under Technip design .236
Table 91: Karbala refinery product slate  .236
Table 92: Kirkuk refinery units  .237
Table 93: Kirkuk refinery product slate  .238
Table 94: Missan refinery units    .239
Table 90: Missan refinery product slate   .240
Table 96: Refinery principles and challenges    .242
Table 97: Iraq refinery upgrade prgramme, 2012-2019 .246
Table 98: Government budgeted refinery upgrade programme, 2011-15  .246
Table 99: North refinery expansion projects  .  .247
Table 100: Daura refinery in 2010  .248
Table 101: Daura refinery projects  .249
Table 102: Status of Iraq’s brownfield refinery projects .250
Table 103: Existing petrochemical facilities  .253
Table 104: Iraq fertiliser plants  .  .254
Table 106: Kurdistan region refining projects    .262
Table 107: Iraq petrochemical projects  .263

Published By: Meed
Product Code: Meed1033


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