Iraq’s Midlands Oil Co, despite having the largest operational area allocated to a single state-owned upstream subsidiary, has an underwhelming portfolio of oil and gas assets compared to prolific fields in Iraq’s southern heartland of Basra, Maysan and Dhi Qar provinces. But this could change if the country’s recent upstream bid rounds (MEES, 17 May) yield sizeable resources.
The rounds were dominated by small Chinese firms, some of whom Midlands has experience dealing with. Formed in 2010, Midlands’ remit spans 30 oil and gas fields in eight provinces in central and western Iraq. Only five are producing, only one of which, the northern portion of East Baghdad oilfield, is operated by Midlands Oil. The other four are operated by foreign partners, with Chinese state firm Zhenhua lead partner at the largest two fields (see table). (CONTINUED - 1142 WORDS)
