By John Lee.
Iraq’s new Dhi Qar Oil Company (DQOC) is getting US$42 million in start-up capital following approval from the Iraqi Ministry of Finance, according to a report from OilPrice.
The company was spun off from the South Oil Company (SOC) in January, taking over four of its fields in Dhi Qar governorate; the SOC has been renamed the Basra Oil Company (BOC).
Two other fields not yet in production are the Saba field and the al-Amoud field. Saba is expected to come online later this year with an initial 30,000 bpd, while al-Amoud is being developed and there are no indications as of yet when this field will be brought into production.