About Project
The Miran Block is located in the Kurdistan region of Iraq. The centre of the Miran Block lies approximately 86 kilometers from the centre of the giant Kirkuk oil field and 60 kilometers from the centre of the Taq Taq oil field. The Fertilizer & Gas Projects Strategy is based on Miran Field (“the Transaction”).
LOCATION : Baghdad, Republic of Iraq
SERVICE : Corporate Management
VALUE : USD 800 million
Size : 6,562 Bscf
CLIENT : Royal Gas Ltd. Co.
Sector : Industrial
Overview
At 124.6 trillion cubic feet (“tcf”), Iraq’s proven natural gas reserves at the end of 2020 were the 11th largest in the world. A large proportion of Iraq’s natural gas reserves is also associated with oil reservoirs (somewhere between 67% and 75%). In 2022, Iraq’s dry natural gas production was 332 billion cubic feet (“bcf”), but consumption was 657 bcf, much of which went to the electricity sector. Iraq flared 628 bcf of natural gas in 2022, ranking as the 3rd-largest source country of flared natural gas in the world, behind Russia and Iran.
Gross (100% Working Interest)
| MIRAN WEST | Raw Gas (Bscf) | Condensate (MMstb) | Oil (MMbbls) |
|---|---|---|---|
| 1C | 1,967 | 18 | 6.1 |
| 2C | 6,562 | 75 | 23.7 |
| 3C | 18,429 | 233 | 67.6 |
Rockflow was engaged to conduct an evaluation of the feasibility and viability of the Miran Field and to draft an initial high-level business plan.
The Reservoir is described as a complex, fractured carbonate with heavy oil and sour gas. After further studies over several years, a 2018 Gas Field Development Plan (“FDP”) envisaged gas production ramping up to a plateau of 500 mmscfd over ten years. The sour nature of the gas meant that a development of this scale would yield around 2,400 tons per day of elemental sulfur.
In 2024, Kingston led the Development, through-out pre-feasibility, feasibility and bankable feasibility, legal-financial-technical structure, financing plan, and documentation, to develop the Plant.
