Iraq and Iran move further apart
Baghdad’s pivot away from its neighbour is increasingly extending to their shared resources
Iraq has been giving Iran the cold shoulder in recent months as the new government in Baghdad cosies up to Washington and pivots to build closer ties with Riyadh. And the divergence is also evident in field complexes that sit on both sides of the border. The western part of the giant Iraqi Majnoon oilfield and Iran’s Yaran and Azadegan fields are parts of a shared formation. The overall Majnoon field holds c.38bn bl of oil in place and has been earmarked to reach a production capacity of 500,000bl/d in 2021. The fields on the Iranian side are part of the West Karoun oilfield cluster, along with the giant Azar and Yadavaran fields. A source who advises both oil ministries tells Petroleum
Also in this section
21 December 2021
The worst possible future for the country’s oil producers goes underexplored in scenario planning
21 December 2021
Production from the Heron field could peak at 9,000bl/d and feed both exports and the domestic market
16 December 2021
The JV assumes the role of Rumaila’s main contractor as a new production target is set
16 December 2021
Supply is gradually returning, but the market will remain tight into next year
