BRENT CRUDE
OIL PRICE

IRAQ KEY STATISTICS

2

Exploration, Development &

Production Blocks

 

748.1

Mmboe 2P WI Reserves

2022

 

 

 

28.5

Mmboe Gross Cum Production

2022

 

 

 

78.1

Mboed Gross Daily Production

2022

 

 

 

 


As of year 2022, Iraq’s 2P reserves were 748.1 mmboe and gross cum production were28.5 mmboe with gross daily production of 78.1 mboepd.

UEG holds a 60% participating interest in the Exploration Development and Production Service Contract (“EDPSC”) of Block 9 in Iraq and is the Operator of this block. In 2022, average daily gross production was approximately 57,845 boed, and average daily working interest production was approximately34,707boed. Accumulated gross production and working interest production for the year were approximately 21.1 mmboe and 12.7 mmboe respectively.  Block 9 has an oil and liquids ratio of 100%.

The Group holds a 30% participating interest in the Gas Development and Production Service Contract for the Siba contract area in Iraq and is the Operator of this block. Average daily gross production in 2022 was approximately

20,247 boed, and average daily working interest production was approximately 6,074 boed. Accumulated gross and working interest production were approximately 7.4 mmboe and 2.2 mmboe respectively. Siba has an oil and liquids ratio of ~67%

*According to UEG’s Investor’s Report (2022)

 

 

Field Overview
Block 9 Siba
Location Basra Governorate Basra Governorate
Type Onshore Onshore
Operator Kuwait Energy Kuwait Energy
Kuwait Energy Revenue Interest 60% 30%
Other Parties Dragon Oil Holdings Limited, Egyptian General Petroleum Corporation (EGPC Turkish Petroleum Corporation (TPAO), Missan Oil Company, Egyptian General Petroleum Corporation (EGPC)
Contract Date January 2013 June 2011
Contract Type Service Agreement Service Agreement
Plateau Rate To be agreed with SOC after declaration of commerciality 100 mmscfd of gas
Remuneration 6.24 ($/boe) 7.50 ($/boe)