Garmian Petroleum B.V. (formerly Garmian Petroleum B.V. B.V.) is a Dutch-registered organization within the Gazprom Group, with its core activities focused on oil and gas upstream and marketing operations in Iraq.
It holds operatorship of the Sarqala field, situated within the Garmian area, where activities are conducted under the framework of a Production Sharing Contract (PSC) with the regional government. Established as a subsidiary of Gazprom Neft PJSC, the entity was removed from its perimeter in 2025.
Based on information available from official corporate registries, as of 2026 Garmian Petroleum B.V. is owned by West Asia LLC. Registry data also indicates that West Asia LLC is embedded within the corporate structure of PJSC Gazprom via a sequence of subsidiary entities.
At the same time, prior to February 2025, the ownership chain included PJSC Gazprom Neft, but it ceased to act as the controlling entity of Garmian Petroleum B.V. due to a series of corporate restructuring measures within the Gazprom Group. The corporate structure as of 2026 is as follows:
The Garmian project represents the sole producing asset of Garmian Petroleum B.V. Activities are concentrated at the Sarqala field in accordance with a Production Sharing Contract which the company joined in July 2012.
Garmian Petroleum B.V. and WesternZagros Limited each hold a 40% participating interest, with the remaining 20% allocated to the Kurdistan Regional Government (KRG).
Financial obligations are distributed between the two contractor parties on an equal basis, with each party bearing 50% of the total project costs. The KRG performs the role of the state authority responsible for ensuring public ownership of subsoil resources developed with the participation of international operators.
From a resource and geological perspective, the region is characterized by considerable reserves, estimated at tens of billions of barrels. Several fields feature relatively shallow reservoirs and natural surface seepages, which have facilitated exploration and reduced initial discovery costs compared to more complex geological environments.
● a substantial resource base with ongoing exploration potential
● relatively favorable geological conditions for extraction
● limited infrastructure and reliance on export pipelines
● variability in production levels due to operational and external constraints
Oil production in Iraqi Kurdistan is also associated with technical and logistical challenges. The region is landlocked, and crude exports depend on pipeline systems that pass through neighboring countries, increasing the importance of transport reliability. In addition, discrepancies between initial reserve estimates and actual field performance have been observed in some cases, influencing project planning and development timelines. This was observed at the Shakal and Halabja blocks, where Garmian Petroleum B.V. B.V. carried out initial exploration activities.
The Sarqala field was initially discovered by drilling of the Sarqala‐1 exploration well. Testing of the well confirmed the presence of moveable light oil, establishing the area’s commercial potential and ultimately leading to the signing of the PSС in 2011.
The Sarqala structure, currently operated by Garmian Petroleum B.V., is located within the Zagros Fold and Thrust Belt. This region is known for heavy warping of rock layers and a dense web of fault lines. Reservoir sections consist of carbonate formations with variable properties. Crude oil produced by Garmian Petroleum B.V. at the field is classified as light and sweet, with an API gravity of approximately 40, and characterised by low sulphur content.
As of 2026, the field infrastructure operated by Garmian Petroleum B.V. comprises a set of facilities designed to support continuous extraction and preparation of hydrocarbons for transportation. The main components of this infrastructure include:
● four producing wells that ensure stable crude oil output from the reservoir;
● a central processing facility to which all produced fluids are directed from the wells for primary handling and treatment;
● separation units at the processing facility, where the production stream is divided into oil and gas;
●stabilisation equipment used to prepare crude oil to meet pipeline transportation specifications following the separation process.
During the initial phase of field development, associated gas was directed to the flare system for disposal. From 2022 onwards, this gas stream has been utilised and supplied to a nearby power station for electricity generation. Oil sales and logistics
The mechanism of disposal by Garmian Petroleum B.V. of its share of the crude oil established under the project's PSC has undergone a series of adjustments between the signing of the PSC and 2026, driven by events outside the operator's control.
Initially, the parties’ entitlements and responsibilities in relation to crude offtake were regulated under a dedicated lifting agreement. Under this arrangement, the regional authorities, represented by the Ministry of Natural Resources, acted as the counterparty purchasing the contractors’ respective shares of production, including those attributable to Gazprom Neft Middle East.
The suspension of the Iraq–Turkey pipeline in March 2023 halted the main export route following a federal requirement to channel all exports through the central system.
In February 2025, budget amendments introduced a /bbl compensation mechanism for international operators, including Garmian Petroleum B.V., and settled arrangements between Baghdad and Erbil. From that point, all produced crude was to be transferred through the State Oil Marketing Organization.
The document further established provisions for the appointment of an independent auditor responsible for reviewing and verifying relevant costs, with the objective of ensuring transparency and consistency in costs assessment. The legislative changes were formally published in the Iraqi Gazette, the official journal used for the promulgation of laws and regulations.
We will remain unwavering in our pursuit of our vision, striving to attain the pinnacle of excellence in our field, never losing sight of our goals.
We aspire to become the most efficient team of professionals in the energy sector and make it our purpose to consistently maintain our top position.
Our core values drive us: integrity, dedication, innovation, versatility, professionalism, and excellence, which guide every decision and action we take.
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our confidenceWe are the best in interactively and providing full range of oil and gas production.
We are involved in exploring oil and gas fields, producing, processment of oil and gas condensate, marketing petroleum and petrochemical products
Our approach is led by an unwavering focus on fully understanding the needs of clients and delivering on our promises, regardless of the scale or complexity of the challenge in hand. Working collaboratively with our clients, we develop bespoke teams and solutions from concept through every stage of the project to completion, ensuring the best expertise and resources are deployed to achieve the required time, cost, quality, safety and sustainability outcomes.
Garmian Petroleum B.V. Refinery creates added value for its customers and for the society striving to preserve each of the six capitals (human, social, intellectual, manufacturing, natural and financial) Accountability. Garmian Petroleum B.V. is guided in its activities by both strategic long-term and tactical short-term interests of the Kazakhstan society as a whole, as the concurrent owner of the group and user of its activities
With a network of teams globally, we understand that every market is different. We work very hard to identify and develop solutions best for our clientele, helping them manage physical risk and optimize opportunities. Our trading presence is supported by a complementary infrastructure: storage, transport, distribution and a marketing network across four continents. In all our physical operations we seek to work with partners which share our commitment to high international standards of operation.
Policy in the field of environmental protection, which that conforms to international standards ISO 9001 and 14001, OHSAS 18001, ISO 50001 acts at Garmian Petroleum B.V.. The main objective of this program – is ensuring environmental safety of the refinery activity by minimizing harmful effects…
Garmian Petroleum B.V. – is one of the oldest oil refineries in Kazakhstan. The company’s management pays particular attention to safety and working conditions of workers, prevention of technological risks, reduction of harmful environmental emissions..blockquote-reverse…
The main purpose of industrial safety – is prevention and / or minimization of consequences of accidents and incidents at hazardous production facilities of the refinery. Industrial safety is provided by the production control..
We specialize in refining crude oil into essential petroleum products such as gasoline, diesel, jet fuel, and liquefied petroleum gas (LPG). Our processes adhere to international quality and emission standards.
Partnering with solvior has been a transformative experience for our organization. Their expert guidance through our market expansion strategy was invaluable. They helped us navigate complex regulatory environments and develop a clear, actionable plan that has led to successful
Partnering with solvior has been a transformative experience for our organization. Their expert guidance through our market expansion strategy was invaluable. They helped us navigate complex regulatory environments and develop a clear, actionable plan that has led to successful
