Which companies are best positioned for flare gas capture in southern Iraq?

Firms tied to Artawi and Basra gas processing expansions are best placed because they already have permits, sites, and active build programs. Prioritize teams with proven brownfield tie in work and local staffing depth.

What should buyers check before awarding oilfield services work in Iraq?

Confirm in country bases, rotation plans, and the ability to operate during airspace limits or security stand downs. Also check how the firm manages customs clearance and critical spare parts delivery.

How do Iraq's newer contract terms change operator behavior?

Profit linked terms can speed decisions when upside is clear, but they also raise scrutiny on cost control and schedule discipline. Operators with integrated execution models tend to benefit most.

What is the most common delivery risk for large projects in Basra?

Interface risk is the biggest issue, especially when water, power, gas, and oil scopes move together. Delays often come from handoffs between field owners, EPCs, and midstream tie points.

How should a company assess partners for the Iraq Turkey export route?

Focus on payment assurance, storage options, and the ability to keep crude quality and scheduling stable. Strong relationships with both federal and regional counterparts reduce restart risk.

Which signals show a company can execute through instability in Iraq?

Look for repeated project starts since 2023, continued staffing during tension periods, and visible contract renewals. Consistent delivery under constraints is more predictive than announcements.

Top Iraq Oil And Gas Companies - Key Players & More

BP PLC

March 2025 saw BP move from a 2024 MoU to a ratified Kirkuk redevelopment contract. The scope covers oil, gas, power, and water and aligns with Iraq's integrated development push under newer profit-linked terms. BP applies its giant field operating playbook to brownfield decline management and facility rehab, which is the key differentiator. Faster drilling progress could lift northern supply into domestic refineries as a plausible upside. The operational risk is that Baghdad-Erbil politics and local security could tighten travel, slowing specialist mobilization and procurement.

Leaders

TotalEnergies SE

Capital anchored delivery explains TotalEnergies' high execution score in Iraq, especially in Basra. The company, a top player in multi energy project delivery, moved GGIP into full execution, including ArtawiGas25 construction in January 2025 and major contract starts in September 2025. Its moat lies in bundling flare gas capture, water injection, solar, and oil ramp plans into one governance model that aligns with Iraq's power needs. Earlier gas processing starts could cut imports faster, while schedule drag from permitting, site access limits, or contractor performance under tight timelines is the critical risk.

Leaders

China National Petroleum Corporation / PetroChina

Scale and tolerance for Iraq operating conditions underpin this state-backed operator group's strength in the south. In January 2025, Basra Oil leadership stated West Qurna 1 output could rise sharply by end 2025, reflecting aggressive development intent under PetroChina operatorship. Cost-disciplined drilling and facility build-out supported by Chinese supply chains are the differentiator. Stronger seawater support could improve pressure maintenance across neighboring fields as a realistic upside. The key risk is heavy reliance on a single sourcing ecosystem becoming fragile if shipping lanes or payments face disruption.

Leaders

Basra Oil Company

State anchored control of southern development gives Basra Oil Company an unmatched footprint and real operational influence. In 2025 it remained central to partner coordination, managing southern operator activity during security tensions and extending EPCM support at Majnoon through KBR. Its ability to convert policy priorities into field-level execution across multiple assets at once is the differentiator. Faster alignment on seawater injection and gas capture programs could lift sustainable output as a realistic upside. The critical risk is execution overload, where too many parallel megaprojects strain governance and contractor capacity.

Leaders

PJSC Lukoil Oil Company

Sanctions resilience ties Lukoil's near-term performance closely to asset continuity in southern Iraq. In late 2025, Iraq intervened to keep West Qurna 2 operating smoothly amid payment constraints, while a separate leak triggered a shutdown and force majeure steps. That combination weakens execution confidence even if reservoir fundamentals stay strong. An ownership transition that brings a new operator could preserve uninterrupted exports, but the critical operational risk is extended limits on cross-border banking and spares, which can raise outage frequency and safety exposure.

Established

State Organization for Marketing of Oil (SOMO)

Export reliability anchors Iraq's state owned marketer, which focuses on crude sales and customer continuity rather than field engineering. In September 2025, SOMO discussed building access to overseas storage with Exxon to reduce supply interruption risk for key buyers. Its differentiation is control of offtake decisions and term relationships that influence upstream cash conversion across Iraq. Temporary export route constraints could force more spot optimization and increased storage use as a realistic outcome. The operational risk is that logistics shocks or port capacity bottlenecks tighten delivery windows, increasing penalty exposure and buyer churn.

Established

ENI SpA

Security and workforce mobility now shape ENI's Iraq execution more than subsurface complexity, despite a long operating history in Basra. In June 2025, ENI reduced personnel at Zubair as a precaution during heightened regional tension, showing how quickly operating posture can shift. Disciplined field operations and structured contractor oversight remain the company's differentiation. Prolonged instability could force a semi-permanent lower expat footprint, slowing debottlenecking. The operational risk is that reduced specialist presence can stretch maintenance cycles and increase unplanned downtime when equipment reliability degrades.

Established

Shell plc

Gas capture at scale is Shell's Iraq calling card through its long-running Basrah Gas Company participation, even when it is not the operator. In May 2023, Basrah Gas Company inaugurated BNGL Train 1 as part of capacity expansion tied to flare reduction. Sustained gas processing capability supports power generation and LPG availability, aligning with Iraq's flaring reduction direction and serving as the differentiator. Incremental financing could accelerate additional trains and compression as a realistic upside. The key risk is that upstream feedgas volatility from partner-operated fields creates unstable plant utilization and uneven product output.

Established

Halliburton Company

Complex field development positions Halliburton as a leading service provider for integrated work that links oil and associated gas. In January 2025, Iraq moved toward a Halliburton deal for Nahr Bin Omar development, targeting a major production uplift and added gas volumes. Integrated well construction and production services are the differentiator because they can shorten cycle time on brownfield redevelopment. Final contract award could expand the scope into multi-year drilling plus facilities support as a realistic upside. The key risk is that security or permitting delays strand crews and equipment, weakening cost control and delivery predictability.

Performers

Schlumberger NV

SLB's Iraq story is shifting toward gas growth delivery, not only routine oilfield service depth. In July 2025, Iraq signed a contract with SLB to raise Akkas gas production to 100 million standard cubic feet per day, replacing a prior canceled arrangement. End-to-end gas field execution capability, from wells through early facilities planning under Iraq's flaring reduction and power supply goals, is the moat. A repeatable template for other stranded gas fields is the realistic upside. The operational risk is that Anbar logistics and infrastructure gaps slow mobilization and create schedule uncertainty.

Performers

Baker Hughes Company

Operator in energy equipment and services, Baker Hughes is most visible in Iraq where gas capture and power enablement are central to government pressure. In April 2024, Baker Hughes joined MoU-driven initiatives focused on capturing flared gas for power alongside other US firms and Iraqi entities. That positioning fits Iraq's urgency to convert wasted gas into electricity feedstock and is the differentiator. A larger awarded scope could link compression, metering, and plant support as a realistic upside. The operational risk is that sudden regional escalation forces staff relocation, complicating commissioning and vendor supervision.

Performers

Dana Gas PJSC

Delivery momentum in Kurdistan gas is the clearest signal for Dana Gas, given its tight coupling to power generation. In October 2025, Dana Gas reported commercial start from the KM250 expansion at Khor Mor, adding processing capacity and supporting higher gas supply into the region. Dependable gas-to-power linkage is the differentiator and helps reduce diesel burn while supporting grid stability. Further capacity growth could push supply closer to one billion cubic feet per day over time as a realistic upside. The operational risk is that drone or sabotage events force shutdowns, damaging reliability perceptions and raising security costs.

Performers

Weatherford International plc

Major supplier of well services, Weatherford's Iraq relevance is strongest where it can convert regional contracts into onshore execution. In third quarter 2024 disclosures, Weatherford cited a Kuwait Energy contract for cased hole wireline services in onshore Iraq, showing continued awarded work in country. Breadth across intervention and completion tools fits mature field optimization needs and is the differentiator. Expanded scope tied to gas-linked development and integrity work is a realistic upside. The key operational risk is that border logistics and airspace closures delay personnel rotation and critical spares, hurting service quality.

Performers

Exxon Mobil Corporation

Re entry optionality, not legacy scale, defines Exxon's Iraq posture today as a global major returning selectively. In October and December 2025 it pursued Majnoon groundwork and signaled interest in Lukoil's West Qurna 2 stake, moves that would instantly rebuild operational relevance in the south. Contract terms and OPEC+ limits can still cap upside, so a fast acquisition could matter more than slow organic wins. If a West Qurna 2 bid closes, it could face payment friction as a realistic what-if. The critical risk remains security-driven disruption that forces repeated demobilization.

Aspirants

China Petroleum & Chemical Corporation (Sinopec)

Execution strength is visible through Sinopec's services arm more than through operated acreage, which still limits influence with Iraqi field owners. In 2024 licensing outcomes, Sinopec was among groups signing new field and block contracts, showing it can win under newer contract forms. In September 2025, Sinopec Oilfield Service disclosed a USD 359.0 million Iraq wellsite and pipeline scope tied to TotalEnergies' Ratawi hub, pointing to deeper EPC delivery exposure. Schedule slippage at well pads could cascade into delayed oil ramp up as a realistic what-if. Key risk is dependence on cross-border equipment flows when regional tensions spike.

Aspirants

Petroliam Nasional Berhad (Petronas)

Field continuity under stress is the clearest test of Petronas' Iraq posture, given periodic security-driven demobilization needs. In November 2025, Petronas confirmed it had demobilised part of its Iraq workforce while keeping critical personnel to run operations, highlighting practical risk management discipline. Steady operatorship in southern fields paired with conservative HSE controls is the differentiation. A calmer security backdrop could allow normal drilling cadence and faster backlog clearance as a realistic upside. The key operational risk is that repeated stand down cycles weaken reservoir management and raise unit costs, especially when contractor availability tightens.

Aspirants

Gazprom Neft PJSC

Iraq exposure is concentrated in a single asset cluster, which makes Gazprom Neft's execution sensitive to any operational or policy shock at that site. The company positions itself as Badra operator and Kurdistan explorer, keeping a foothold even as regional risk rises. In December 2025, Russian officials indicated Gazprom Neft interest in Nasiriyah development, signaling intent to expand Iraq commitments if terms fit. A new award could increase scope but would demand rapid local hiring as a realistic upside. The operational risk is that sanctions perception and financing constraints reduce partner appetite and slow long lead procurement.

Aspirants

KAR Group

Kurdistan focused infrastructure owner KAR has influence concentrated in evacuation routes and associated commercial terms rather than national-scale operations. In November 2025, Rosneft reduced its stake in Kurdistan Pipeline Company, where KAR retained a significant position, highlighting how sanctions risk can reshape pipeline governance. Practical control of logistics options is the differentiator when federal and regional politics block simple solutions. A durable Iraq-Turkey export restart could improve cash collection discipline as a realistic upside. The key risk is that disputes over arrears and control terms re-freeze flows, leaving production stranded and budgets constrained.

Aspirants

Genel Energy plc

Cash recovery and export restart terms matter more than drilling pace for this Kurdistan-focused producer. In September 2025, Genel was among firms holding back from an export restart plan due to arrears and payment assurance gaps after the March 2023 export halt. A disciplined stance on receivables and contract enforcement is the differentiator and can protect downside in fragile fiscal settings. A restart that clears part of the backlog could normalize lifting as a realistic upside. The operational risk is prolonged non payment that forces underinvestment and accelerates natural decline.

Aspirants

Iraq Oil And Gas Companies: Leaders, Top & Emerging Players and Strategic Moves

Top 5 Iraq Oil And Gas Companies

Iraq Oil And Gas Companies Matrix by Mordor Intelligence

MI Competitive Matrix for Iraq Oil And Gas

Analysis of Iraq Oil And Gas Companies and Quadrants in the MI Competitive Matrix

BP PLC

TotalEnergies SE

China National Petroleum Corporation / PetroChina

Basra Oil Company

PJSC Lukoil Oil Company

State Organization for Marketing of Oil (SOMO)

ENI SpA

Shell plc

Halliburton Company

Schlumberger NV

Baker Hughes Company

Dana Gas PJSC

Weatherford International plc

Exxon Mobil Corporation

China Petroleum & Chemical Corporation (Sinopec)

Petroliam Nasional Berhad (Petronas)

Gazprom Neft PJSC

KAR Group

Genel Energy plc

Frequently Asked Questions

Methodology

Analysis of Leading Iraq Oil And Gas Companies