Kogas Operations in Iraq

= History =

Contracts signed in 2009 marked the start of Kogas's work in Iraq.

= Activities and Contracts =

Zubair
In 2009, Kogas formed part of a consortium along with fellow companies Eni and Occidental to develop the Zubair oil field in southern Iraq. Kogas holds an 18.75% share, Eni has 32.81%, Occidental holds 23.44% and Iraq's state-run Missan Oil Company holds the remaining 25%. While the consortium planned to invest approximately $20 billion over the life of the project, Kogas itself has said it plans to invest around $6.5 billion in the field

Badra
For Iraq's second licensing round, Kogas also formed part of a consortium to develop the Badra oil field, together with Gazprom, Petronas and TPAO. The relatives stakes held in the field are as follows: Gazprom (40%), Kogas (30%), Petronas (20%), TPAO (10%). Kogas has said that it will invest $1.05 billion in the project, with the consortium as a whole investing a total of $3.52 billion to pump 170,000 barrels of oil per day (bpd).

Mansuriya
When Iraq launched its third licensing round in 2010, Kogas was favored among 15 companies invited to bid for the Akkas, Mansuriya, and Siba gas fields because of their experience in the industry, and was among 13 companies that registered for the auction round.

Turkey's TPAO, Kuwait Energy Company and Kogas finalised deals in June 2011 to jointly develop the Mansuriya field in eastern Iraq, which pays $7 per barrel of oil equivalent (boe) extracted.

Akkas
In June 2011 Sabah Abdel Kadhim, an Iraqi Ministry of Oil official, stated that the ministry had signed an agreement with Kogas to begin developing the Akkas natural gas field. But it was not until October of the same year that various delays were solved and a definitive deal was signed. Already in June, Kogas had agreed to double its stake in the project from 37.5% up to 75%, after its consortium partner KazMunaiGas withdrew unexpectedly from the project. The Iraqi state-owned North Oil Company will hold the other 25%. The deal Kogas signed for the Akkas field in October 2011 will pay the company a remuneration of $5.50 per boe extracted.

Kirkuk-Baiji pipeline project
In October 2010 Kogas won a $127 million contract to build a 110-kilometre natural gas pipeline linking the Iraqi cities of Kirkuk and Baiji. The contract foresees that the pipeline will be built by 2014.

=References=