Tag Archives | Angola

Sonangol to Transfer Iraqi Oil Fields?

By John Lee. A recent report suggests that, in the uncertainty following the recent Angolan election, the Iraqi assets of the state-owned oil company Sonangol are in play. Writing in Seeking Alpha, Jay Currie says the the Najmah and Qaiyarah [Qayara] oil fields may be transferred to Russian service company Eurasia Drilling, and questions the […]

Sonangol to return to Qayara and Najmah Oil Fields

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] held a meeting with Edson Dos Santos, a director of Angolan oil company Sonangol, saying that he required the company to restart work in the Qayara and Najmah oil fields. According to a statement from the Ministry of Oil, Edison said his company was ready […]

Sonangol told to Return to Iraq

By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has told the Angolan oil company Sonangol to resume its work in developing the Qayara and Najmah oil fields in Nineveh governorate. In 2010 Sonangol was granted a 75-percent stake in the fields, along with North Oil Company (25%), at a price of $6.00 per barrel, […]

Sonangol Pulls Out of Iraq

By John Lee. Angola’s Sonangol has decided to abandon its Qayara and Najmah oilfields in Nineveh province due to security problems. Reuters reports that Anabela Fonseca, Sonangol board member in charge of international investments, told a news conference: “Our presence in Iraq was as an operator in an area with much conflict. Last year we […]

“No Time Limit” for Sonangol

An Oil Ministry spokesman has said that the ministry “will not put time limit for the Angolan oil company [Sonangol] in developing Najma and Qayara oilfields, due to the security obstacles facing it in these areas”. According to the report from Aswat Al Iraq, the company suffered terrorist attacks on its personnel and sites, so […]

Big Oil to spend $25bn in Iraq Next Year

By John Lee. Iraq’s deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that ‘Big Oil’ is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]

Sonangol to Start Work on Ninewa Oilfields

Angolan oil company Sonangol started work on Thursday at the Najma [Najmah] and Qaiyara [Qaiyarah] oil fields in Ninewa, and it will start to dig wells in April, according to a report from Aswat al-Iraq. In the second licensing round in 2009, Sonangol was the only company to submit bids for these fields. In both […]