The United Arab Emirates energy company Crescent Petroleum has signed three contracts to develop natural gas fields in Iraq’s Diyala province (east) and Basra province (south). Crescent Petroleum will develop the Gilabat-Qumar and Khashim Ahmer-Injana fields in Diyala province to initially produce 250 mcf/d (2.6 bcm/year) of natural gas. The group will reach this production within 18 months, which will be used to supply nearby power plants. The Emirati company also plans to explore and develop a third block in Basra province, the Khider al-Mai block, to add further supplies of oil and gas.
In addition, two Chinese companies have also signed agreements with Iraq for the development of three additional fields. China's Geo-Jade Petroleum Corporation will develop the blocks of Naft Khana in Diyala and Huwieza in the south-eastern province of Maysan, while United Energy Group will develop the al-Sindibad block in the Basra province.
The contracts were signed following Iraq’s fifth energy auction, which was initially held in 2018 for 11 blocks of land near its borders with Iran and Kuwait (5 of which did not receive any offers). Iraq is currently planning a sixth auction.
As of end-2021, Iraq’s proved gas resources reached 3,714 bcm while its proved oil resources reached nearly 20 Mt. The country produced 10.4 bcm of gas and 202 Mt of crude oil in 2021.