Despite ongoing tensions between the KRG and the Federal Government of Iraq, the development of the region continues. We believe that the outlook for the Basin remains positive as the parties' relationship continues to make progress, albeit in a sawtooth manner.
May 27, 2021
In Considering the ZTFB, you also need to include the Zagros Fold Belt Basin, which are collectively known as the Zagros Fold Thrust Basin ("ZTFB"). The ZTFB was formed along a section of the plate boundary that is subject to oblique convergence with the Arabian Plate moving northwards with respect to the Eurasian Plate. The degree of obliqueness reduces southwards along the Zagros, with the collision becoming near orthogonal within the Fars domain. The relative movement between the plates is only partly taken up within the Zagros, the remainder is taken up by deformation in the Alborz mountains and the Lesser Caucasus mountains to the north.
While only recently developed (since 2004), the Basin has enjoyed significant exploration successes.
Source: ESRI, BGS, USGS & OGA data
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