Tag Archives | Basra Oil Company (BOC)

Japanese Firm Buys Shell’s Stake in West Qurna 1

By John Lee. Japan’s Itochu has reportedly bought Shell‘s 20 percent stake in the West Qurna 1 oilfield. Ihsan Abdul Jabbar, the head of state-run Basra Oil Company (BOC), told Reuters that the oil ministry discussed the required financial investments and operations at the field with Itochu, and approved the deal. West Qurna 1, operated by […]

KBR to help Develop Majnoon Oilfield

By John Lee. Iraq has reportedly reached an agreement with US engineering firm KBR to help manage projects to develop production capacity at the Majnoon oilfield. Shell is preparing to exit the Majnoon oilfield by the end of June 2018, handing it over to the state-run Basra Oil Company (BOC). Ihsan Abdul Jabbar, the head […]

Petronas confirms Exit from Majnoon Oilfield

By John Lee. Malaysia’s Petronas has reportedly confirmed that it will exit from Iraq’s Majnoon oil field along with joint stakeholder Shell. A spokeswoman for Petronas told The National: “Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with Shell on the handover of the field to the […]

Petrofac wins $160m Iraq Contract

Petrofac’s Engineering & Production Services (EPS) division has secured an award worth US$160 million from Basra Oil Company (BOC), previously known as South Oil Company (SOC), for its Iraq Crude Oil Export Expansion Project (ICOEEP). The new two-year extension reflects Petrofac’s continued delivery focus and five-year track record as the incumbent operations and maintenance service […]

BP, Eni “interested in Majnoon Oilfield”

By John Lee. Reuters has reported that both BP and Eni have expressed an interest in developing the giant Majnoon oilfield, which Shell plans to exit next year. Iraqi oil officials told the news agency that Iraq’s Ministry of Oil has not yet started negotiations with either company. BP is currently developing the Rumaila field, […]

Official Launch of Dhi Qar Oil Company (DQOC)

By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi] has officially launched the new Dhi Qar Oil Company (DQOC) [Thi-Qar Oil Company]. At a ceremony in Nasiriya, the Minister said he is working to develop the Nasiriya oil field and the other exploratory blocks and fields in the region, and called on international companies […]

New Dhi Qar Oil Company Gets $42m Capital

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 […]

Iraq sets up Dhi Qar Oil Company

By John Lee. Iraq has this week established the Dhi Qar Oil Company (DQOC), which will take over responsibility for the Nassiriya and Garraf oil fields. The South Oil Company (SOC) has been renamed the Basra Oil Company (BOC), following the transfer of the Dhi Qar assets to the new company. (Source: Reuters)