BRENT CRUDE
OIL PRICE

IRAQ KEY STATISTICS

2

Exploration, Development &

Production Blocks

 

744.6

Mmboe 2P WI Reserves 2021

23.2

Mmboe Gross Cum Production 2021

 

 

 

63.6

Mboed Gross Daily Production 2021

 

 

 

 

 


As of year 2021, Irap’s 2P reserves wer744.6 mmboe and gross cum production were23.2 mmboe with gross daily production of 63.6 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 2021, average daily gross production was approximately 43,652 boed, and average daily working interest production was approximately 26,191 boed. Accumulated gross production and working interest production for the year were approximately 15.9 mmboe and 9.6 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 2021 was approximately

19,924 boed, and average daily working interest production was approximately 5,977 boed. Accumulated gross and

working interest production were approximately 7.3 mmboe and 2.2 mmboe respectively. Siba has an oil and liquids ratio of ~67%

*According to UEG’s Investor’s Report (2021)

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)