Tag Archives | Exxon Mobil

Exxon’s $53bn Iraq deal “in Difficulty”

By John Lee. ExxonMobil‘s giant oil project in southern Iraq is reportedly on hold. According to Reuters, a combination of contractual difficulties and security concerns is delaying agreement on the $53-billion Southern Iraq Integrated Project, which includes the construction of a water treatment plant needed to boost oil production. The deal would have seen Exxon […]

Rocket attack on Oil Workers’ Camp

By John Lee. A rocket has hit a residential and oil operations headquarters near Basra city, wounding three workers at an Iraqi drilling company. The short-range Katyusha missile hit a compound in Burjesia which is used by several international oil companies (IOCs), including ExxonMobil. Oil production and exports are not expected to be affected. (Sources: […]

Iraq’s Oil Sector caught in crossfire between US, Iran

By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. ExxonMobil evacuated dozens of its non-Iraqi employees from Iraq on May 18. The evacuation follows a US State Department decision to withdraw its non-essential staff from the US Embassy in Baghdad and its consulate […]

Exxon Ex-Pats “to return to West Qurna 1”

By John Lee. According to a report from Reuters, employees from Exxon Mobil will start returning to work at the West Qurna 1 oilfield on Sunday. Sources told the news agency that the company had received assurances from the Iraqi Ministry of Oil and the Basra Oil Company (BOC) that its staff would receive extra […]

Oil Minister slams Exxon decision to Evacuate Staff

By John Lee. Oil Minister Thamer al-Ghadban has criticised ExxonMobil‘s decision to temporarily evacuate staff from the West Qurna oil field as “unacceptable and unjustified”. In a statement on Sunday, he said the move was “political“, and pointed out that other international oil companies are continuing to work freely. According to CNN, the company evacuated […]

Iraq “close to signing” $53bn deal with Exxon, PetroChina

By John Lee. At its regular meeting in Baghdad on Tuesday, the Iraqi Cabinet received a briefing on negotiations led by Iraq’s Ministry of Oil with ExxonMobil and PetroChina on the Southern Iraq Integrated Project. In a statement, the government describes the project as “a mega energy and infrastructure scheme consisting of building oil pipelines, […]

Schlumberger Wins 30-Well Deal in Iraq

By John Lee. ExxonMobil Iraq Limited has awarded Schlumberger a 42-month IDS contract for 30 wells in the West Qurna Field. The contract includes the provision of drilling rigs and multiple technologies and services, and the first well was spud in July. The announcement was made in the company’s Third-Quarter 2018 Results on Friday. (Source: […]

Saipem wins contract at West Qurna

By John Lee. Italy’s Saipem has been awarded a contract by ExxonMobil Iraq Limited for the DS6 project for the debottlenecking of the West Qurna field, in the south east of Iraq. Debottlenecking is a process that optimises a plant in order to increase its overall capacity. The works will have a duration of 23 […]

Exxon Out of Desalination Project

By John Lee. Talks between ExxonMobil and Iraq on the multi-billion-dollar Common Seawater Supply Project (CSSP) have reportedly broken down. According to Reuters, the director general of the Basra Oil Company (BOC) told reporters that the BOC will award the contract through a tender process, which it expects to complete at the end of July. […]

Exxon, Baghdad face Setback on Seawater Project

By John Lee. Talks between ExxonMobil and Iraq on the multi-billion-dollar Common Seawater Supply Project (CSSP) have reportedly reached an impasse. According to Reuters, two sides differ on contract terms and costs. Ian Thom, principal analyst at consultancy Wood Mackenzie, told the news agency: “The CSSP would be expensive and challenging but there’s opportunity here […]

BOC “Preparing to Tender” for Water Injection Project

By John Lee. The Basra Oil Company (BOC) is reportedly preparing to tender for a water injection project in Iraq if talks with ExxonMobil and PetroChina fail. Reuters quotes the head of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD), Abdul Mahdi al-Ameedi, as telling reporters at the CWC Iraq Petroleum Conference in Berlin, […]

Shell to Exit Iraqi Oil Business

By John Lee. Oil giant Shell is trying to sell its stake in the Majnoon oilfield (pictured) in southern Iraq, following a failure to reach agreement with Iraq’s Ministry of Oil. A Shell spokesman told UAE-based newspaper The National: “Following extensive discussions with the Ministry of Oil, the oil minister of Iraq formally endorsed a […]