Tag Archives | Block-9

Kuwait Energy may sell Block 9

By John Lee. Kuwait Energy has reportedly hired an investment bank to advise it on options that could include selling all or part of its Block 9 field in southern Iraq. Reuters says that Perella Weinberg Partners (PWP) will assist in creating liquidity and a cash buffer to repay debt. Discussions on a possible merger […]

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Kuwait Energy signs Block 9 Farm-out Agreement

Kuwait Energy Signs Block 9, Iraq Farm-out Agreement with Dragon Oil Kuwait Energy (KEC) has announced the signing of the Block 9, Iraq Farm-out Agreement with Dragon Oil (a wholly-owned subsidiary of Emirates National Oil Company Ltd, the national oil company of Dubai). As per the Farm-out Agreement, Kuwait Energy will assign a 15% participating […]

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Kuwait Energy plans New Wells in Iraq

By John Lee. Kuwait Energy has said that by focusing on its Iraqi operations, it is protected against oil price fluctuations, allowing it to sustain growth and a strong balance sheet even under volatile market conditions. In its Financial Statement for 1st Half 2017, the company says: “Our finances reflect the continued growth in the […]

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Faihaa-3 commences Oil Production

Kuwait Energy has announced the commencement of oil production from the Faihaa-3 well located in the Block 9 concession situated in the Basra Governorate. The Faihaa-3 well started commercial production on 12 February 2017 at 40/64 inch choke size and has stabilized at a gross daily rate of 5,200 barrels of oil per day (bopd). […]

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Production Commences at Faihaa-2 well in Block 9

By John Lee. Kuwait Energy has announced the commencement of production from the Faihaa-2 well in the Block 9 concession. in Basra Governorate. The Faihaa 2 well was spudded on 3 January 2016, with production testing commencing on 23 September 2016 at 52/64 inch choke size at an initial rate of 9,583 barrels of oil […]

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Kuwait Energy signs Export Agreement for Block 9

By John Lee. Kuwait Energy has announced the signing of an Export Oil Sales Agreement for its Block 9 project in Iraq. The agreement, signed between a consortium led by Kuwait Energy plc and Iraq’s State Oil Marketing Organization (SOMO) puts in place the mechanism by which Kuwait Energy will be paid for services in […]

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Block 9 Reaches Production in Record Time

Kuwait Energy has announced that the consortium comprising of Kuwait Energy (60%) as the operator, Dragon Oil (30%) and the Egyptian General Petroleum Corporation (10%) has commenced oil production from Faihaa-1 well in Block 9, Iraq. The Faihaa-1 well is located in Block 9 field, which is situated in the hub of Iraq’s oil industry […]

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Egypt Finalises Farm-in at Block 9

By John Lee. Egypt has finalised a farm-in at Iraq’s Block 9 area in Basra province on Wednesday. Under the agreement, Kuwait Energy (KEC) will give up 10 percent of the concession, leaving it with a 60 percent share. According to a report from Reuters, this is the first time that the state-owned Egyptian General Petroleum […]

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Dragon Oil Updates on Block 9

By John Lee. In a statement to the markets this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: “In 2014, the partners in Block 9 in Iraq (Dragon Oil 30%) announced the discovery of oil in two formations in the consortium’s first exploration well, Faihaa-1. “Open and cased […]

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Dragon Oil Updates on Block 9 Progress

By John Lee. In its Interim Management Statement this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: “In 2014, the partners in Block 9 in Iraq, announced the discovery of oil in two formations in the consortium’s first exploration well, Faihaa-1 in which Dragon Oil holds 30 percent. […]

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Kuwait Energy, EGPC Partner on Block 9

By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra Governorate, in Southern Iraq. The signing […]

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