Missan Oil Company

Following the spin-off from South Oil in 2008, Missan initiated an international consortium to develop the Zubair oil field. As part of a series of international licensing rounds, the 20-year deal was finalized in 2010, with companies Eni (32.81%), Occidental Petroleum (23.44%) and Korea Gas Corporation (18.75%) holding stakes in the venture. Missan Oil (25%) and its partners announced plans to increase field production from 195,000 barrels per day (31,000 m3/d) to around 1,200,000 barrels per day (190,000 m3/d) and invest around $6.5 billion into the development of the field.

In 2009, as part of the second round of post-war oilfield bidding held by the Iraqi government, South Oil (25%) awarded a major contract to CNPC (37.5%), Total (18.75%), and Petronas (18.75%) to develop the major Halfaya oilfield. After the deal was completed, MOC took over operations and ownership from South Oil, and the final 20-year contract was signed in January 2012.

In 2010, MOC signed technical service contracts with CNPC and CNOOC. In 2011, Missan Oil signed another contract with Shell (45%) and Petronas (30%), to develop the Majnoon oil field in the Basra region.

In 2013, MOC announced the completion of four new production wells in the Halfaya oil field.

The Majnoon oil field operations were given to Basra Oil Company (BOC) in June 2018 after Shell exited.

In October 2023, the gas processing project (GPP) in the Halfaya oil field reached mechanical completion and commissioning began in March 2024. It was inaugurated in June 2024 and it has a production capacity of 300 million standard cubic feet per day.

The MOC signed a contract with KAR Group for the Ad Daimah field during the Fifth-plus licensing round in May 2024.

The Maysan Oil Company (MOC) is responsible for fields in the Maysan province which include six producing fields (Bazergan, Abu-Gharb, Fakka and Halfaya), as well as Majnoon, which it operates in partnership with the South Oil Company. Maysan also holds five discovered but unproducing fields, including the Huweiza, al-Rafi’e, East Rafidan, Dujeila and Kumait fields.

In 2013, production levels stood at around 200,000 barrels per day (32,000 m3/d), with plans to increase to 300,000 barrels per day (48,000 m3/d) by the end of the year. In 2014, production had reached 400,000 barrels per day (64,000 m3/d) and the target of 1,000,000 barrels per day (160,000 m3/d) was set for 2020.