1. Market Research
  2. > Transportation Market Trends
Iraq Oil and Gas Market - Growth, Trends, and Forecasts (2020 - 2025)

Iraq Oil and Gas Market - Growth, Trends, and Forecasts (2020 - 2025)

  • September 2020
  • 117 pages
  • ID: 5974104
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

The oil and gas market in Iraq is expected to grow at a CAGR of more than 2.4% during the forecast period of 2020 – 2025. Factors such as increasing oil and natural gas production and consumption, upcoming pipeline infrastructure projects, plans to improve oil infrastructure across the country, and rising investment in all three oil and gas sectors are expected to boost the growth for the Iraq oil and gas market during the forecast period. However, increasing conflict with the local population due to substandard environmental clearances and extensive usage of scarce water, especially in the Basra region, has caused widespread concerns among the people which, in turn, is expected to have a negative impact on the upcoming projects in the country.

- The upstream sector is expected to dominate the market in the forecast period owing to its large size and new investments into the modernization of the technology. The significant increase in the natural gas production is also expected to provide boost to the market.
- As oil is expected to remain one of the main components in the energy mix, it can become an opportunity for companies to exploit the conventional oilfields with excellent grade of oil at cheaper rates and increase their profitability.
- The increasing number of projects in the oil and gas sector have helped push for growth in the industry. Companies around the globe are using their resources to improve their stake in the Iraq oil and gas market and trying to increase their gains in the coming years. As political stability has increased, since the defeat of the Islamic state in 2019, more companies are expected to invest their funds in Iraq.

Key Market Trends
Upstream Sector to Dominate the Market

- In 2019, the China Petroleum Engineering & Construction Corp (CPECC) has been awarded a USD 121 million, engineering contract to modernize the facilities being used to extract gas during oil production at the West Qurna oilfield in Iraq
- Rumaila oilfield is one of the largest oil fields in the world. It is expected to contain 18 billion barrels of oil. As of 2019, Companies such as BP, China National Petroleum Corporation, Iraqi state-owned SOMO are extracting crude oil estimated around 1.1 million barrels per day.
- The natural gas production in the country increased substantially, by 28.4 %, to 11.2 million tons of oil equivalent, in 2018 from 8.7 million tons of oil equivalent, in 2017. The increase in production can be attributed to the investment made into the gas fields in the country.
- Iraq has a lot of conventional oilfields, and it is expected that the production of oil and gas, that is the upstream sector, may play the most prominent essential role in the Iraq oil and gas market.

Upcoming Projects in Oil and Gas Sector to Drive the Market

- A new refinery in the southern city of Karbala is expected to begin operations in 2022 and will have a production capacity of 150,000 barrels per day. IN 2019, the refinery is in construction.
- A pipeline is proposed for 400 USD million agreement, in which BP PLC and Eni SPA would build two seabed oil pipelines for Iraq’s southern exports through the Gulf. The deal includes the replacement of an aging pipeline which transports crude pipeline to the Khor al-Amaya terminal.
- The value of oil projects in the design, bid evaluation, and main contract bid phases has also increased in the past few years. As the political instability has decreased in the country, the value of projects, and the risk investors are ready to make have increased dramatically.
- Oil production increased from 3,500,000 barrel/day, in 2015 to 4,400,000 barrel/day, in the early 2020. Oil production is expected to increase further in the forecast period. The country gains most of the profit through the export of crude oil.
- Hence, with rising oil production and refining activity across the country, the oil and gas are expected to witness a massive surge during the forecast period.

Competitive Landscape
The Iraq oil and gas market is moderately consolidated. Some of the major companies in this market include Exxon Mobil Corporation, BP PLC, China Petroleum & Chemical Corporation, PJSC Lukoil Oil Company, Petroliam Nasional Berhad.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Permian Basin in the US, 2020 - Oil and Gas Shale Market Analysis and Outlook to 2022

  • $ 3999 - $ 2999 - Get 25% off now!
  • October 2020
  • 57 pages

Permian Basin in the US, 2020 - Oil and Gas Shale Market Analysis and Outlook to 2022 Summary The Permian Basin has been the most affected play in the US since the beginning of the Covid-19 pandemic.At ...

  • Texas
  • New Mexico
  • Oil And Gas
  • Crude Oil
  • Industry analysis
  • Natural Gas Reserves
  • Crude Oil Production

ref:plp2020

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on