Tag Archives | Exxon

Oil Ministry’s “Odious Contract’ Trap” with ExxonMobil

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil and the “Odious Contract’ Trap” with ExxonMobil’ Consortium Talks have intensified recently about the continuation of negotiations between the Ministry of Oil (MoO) and ExxonMobil/CNPC consortium that might […]

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: […]

Exxon Increases Production at West Qurna 1

By John Lee. Production at the West Qurna 1 oilfield has reportedly reached 465,000 barrels per day (bpd), following the completion of new crude processing facilities and oil storage tanks. Officials told Reuters on Monday that the field was previously producing about 440,000 bpd. Exxon‘s foreign staff were present at a ceremony to launch the […]

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, […]

Wood Group sees Increased Activity in Iraq

By John Lee. Wood Group has said that it is seeing strong growth in the Middle East due to “increased activity in Iraq with Exxon and Basra Gas [Company (BGC)]“. In its full year results for the year ended 31 December 2018, the UK-based energy services company said it sees “opportunities in Middle East driven […]

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. […]