The study investigates the palynofacies, organic matter character, and hydrocarbon generation potential of this rock unit, based on surface and subsurface samples from the Ora Formation type-section in extreme northern Iraq and the Akkas-3 well in western Iraq, respectively. Dark, mostly oxidized, gelified platy amorphous organic matter (AOM) dominates the palynological components in the surface section, in addition to a few rounded spores and structured phytoclasts. In contrast, palynomorphs, including Ambitisporites avitus, Aneurospora spp., Vallatisporites verrucosus, Acinosporites spp., Verrucosisporites nitidus and the algae Botryococcus, are predominant in studied samples from the Akkas-3 well. Statistical cluster analysis identified three palynofacies types in the surface section based on stratigraphic variations in the particulate organic matter. These vary from high amorphous organic matter (AOM), moderate phytoclast, and low palynomorph abundances that represent proximal suboxic–anoxic shelfal environments to moderate to good AOM and low to moderate palynomorph abundances that represent distal suboxic–anoxic or distal dysoxic–anoxic shelfal environments. The organic petrographic study of the outcrop section also revealed the strong effect of oxidation, where dispersed terrigenous and amorphous organic materials in the form of granular and gelified forms dominate and reflect a terrestrial origin of these components. In the subsurface section, a mixed terrestrial and less marine or lacustrine origin characterized the studied organic matter, where land plant spores (sporinite), in addition to vitrinite and inertinite, are dominant with a few scattered liptinite macerals. The difference in thermal maturity between the outcrop and subsurface samples is likely due to the higher tectonic burial of the outcrop samples that form part of the Northern Thrust Zone of Iraq. Nevertheless, higher abundances of AOM (oil-prone kerogen type II) accumulated in the northern outcrop type section. This might imply that the Ora Formation has a higher potential for hydrocarbon production north of the Akkas field.