Company Overview
PetroIraq Oil Fields Development Company (“PetroIraq”) is the first privately owned Iraqi Exploration and Production company. The company has first mover advantage, is well positioned to partner with IOCs in Iraq and has assembled a strong team of local and international expertise who have operated world-class global oil and gas assets. It consists of both Iraqi and international professionals from across the E&P spectrum, from technical, commercial and financial standpoints.
Iraq has many undeveloped giant and large oilfields with smaller reserves than the super-giant fields under development in the South. Several of these fields are being evaluated by PetroIraq in the Mesopotamian Basin. Fields have wells that tested oil and/or gas and some currently have modest production.
Fields are being ranked under technical and commercial criteria in order to determine the preferred target. The lessor ranked fields are considered to be present follow-up opportunities in the future.