Tag Archive | "Iraq Drilling Company"

Drilling to Start at Block 9


By John Lee.

Kuwait Energy and Dragon Oil have secured a rig from the Iraqi Drilling Company (IDC) to spud an exploratory well at Block 9 in Basra Province by the end of the year.

In parallel, the consortium has selected a provider for Environmental Impact Assessment, Environment Base Line Survey and contractors to perform de-mining activities.

Kuwait Energy owns 70 percent of the project and is the operator, with Dragon Oil holding the remaining 30 percent.

The work commitment on the block within the initial five-year exploration period will include de-mining, seismic acquisition and interpretation and drilling of an exploration well.

(Source: Dragon Oil)

Posted in Oil & GasComments Off

Giant Oil Rig Heads to Hamrin


A large oil rig has arrived in the northern oil fields around Kirkuk to start work on reclaiming old oil wells and drilling new ones, according to AKnews.

The wells of the Hamrin mountains were left unused until June this year.

The Iraqi Drilling Company announced the arrival of the rig on Thursday, and its chairman  told AKnews that it can drill wells up to 3,000 feet deep.

The Oil Ministry’s plans to open or re-open a total of 72 wells in the area. Normally the northern fields export 460,000 barrels of oil a month through the Kirkuk-Ceyhan pipeline.

(Source: AKnews)

Posted in Oil & GasComments (1)

Iraq Starts Drilling for Oil in Hamrin Mountains


The state-run Iraq Drilling Company started to drill and repair wells in the Hamrin mountains north of Baghdad for the first time in 21 years, according to Bloomberg.

The company, affiliated with the country’s Oil Ministry, started to work on a total of 72 wells this week, the state-sponsored Iraqiya television said, citing Idriss Mohsen al-Yaseri, director general of the drilling company.

The company is due to drill 12 wells in 2011 and 18 next year, he said.

The Hamrin mountains had been a haven for insurgents, including members of al-Qaeda, after the 2003 U.S.-led invasion of Iraq that ousted the regime of President Saddam Hussein. U.S.-Iraqi forces waged battles against insurgents in the mountains in recent years.

(Source: Bloomberg)

Posted in Oil & GasComments Off

IDC Invited To Bid For Supplying Integral Equipments For Cementing Units


Iraqi Drilling Company invited to bid for supplying integral equipments for cementing units in accordance with the conditions & specifications , which can be obtained from the purchasing department, IDC Headquarters in Baghdad. The bidder will pay Three Hundred Thousand Iraqi Dinars for the tender documents.

Iraqi Drilling Company will not be obliged upon accepting lower offers , any offer that does not meet the specified conditions & specifications or received after the closing date (16/5/2011) will be excluded.

Please click on this link for further information.

Posted in Construction & EngineeringComments Off

Iraqi Drilling Company – 140 Wells in 2011


Citing a report from Reueters, we reported at the weekend that Iraq’s state-owned Iraqi Drilling Company was planning to dig 76 wells in 2011.

But according to Aswat al-Iraq, the company dug 189 oil wells in 2010 and is planning to dig and rehabilitate another 140 other oil wells in 2011.

“Our Company had dug 56 oil wells and rehabilitated 133 others in 2010,” director Idris Muhsin al-Yassery told a news conference at the headquarters of his Company in Basra, adding that the number of oil wells dug in southern Iraq’s Rumaila oilfield was 14, along with the rehabilitation of 91 other oil wells.

He said that the number of oil wells, dug and rehabilitated in Basra, Missan, Baghdad and Kirkuk Provinces had reached 53 wells, including 39 dug and 14 rehabilitated.

“We have bought 22 [drilling platforms] … as well as the purchase of two rehabilitation devices, along with three other towers to be bought later, due to the Company’s plans to dig more oil wells in the near future.”

He said his Company’s 2011 plan was to drill 140 oil wells.

(Source: Aswat al-Iraq)

Posted in Oil & GasComments Off

Iraqi Drilling Company Plans 76 Wells in 2011


Iraq’s state-run Iraqi Drilling Company plans to drill 76 wells in 2011 as part of a national effort to boost oil output to more than 200,000 barrels per day, the head of the firm said on Friday.

According to Reuters, the firm’s director, Idrees al-Yassiri, said the plan included drilling more than 15 wells at the Nassiriya oilfield, which would help boost output from the field by 50,000-60,000 bpd.

“Our plan for 2011 is ambitious. We have enough energy to accomplish it … The increase in production through the national effort will be more than 200,000 bpd through 2011,” he said in a news conference.

The national effort includes drilling new wells in oilfields Iraq is developing on its own, including some of its giant fields like Nassiriya and East Baghdad.

Yassiri said the Iraqi Drilling Company would also drill wells for oilfields being developed by global oil companies.

“We will drill 23 wells for ENI at the Zubair oilfield and 20 wells for ExxonMobil in West Qurna (Phase One),” he said, adding the company will drill 15 wells as part of a consortium in Majnoon oilfield, which is being developed by Royal Dutch Shell.

“Drilling operations for foreign companies will add close to 150,000 barrels per day in 2011,” Yassiri said.

The company has also submitted a bid for a tender to drill 23 wells in West Qurna (Phase Two), which is being developed by Russia’s LUKOIL, Yassiri said, adding the development plan for the field included drilling 75 wells in the next two years.

(Source: Reuters)

Posted in Oil & GasComments Off

Schlumberger ‘Wins Contract’ for Iraq’s W.Qurna


Reuters, citing “industry sources familiar with the matter”, reports that U.S. oil major ExxonMobil and its partners have awarded a contract to oil services firm Schlumberger to drill 10 wells in Iraq’s West Qurna 1 oilfield.

The contract award was finalised a few days ago but a final contract is yet to be signed by Schlumberger, the sources told Reuters.

The new wells are part of the Exxon-led consortium’s plan to rehabilitate West Qurna, for which it signed a 20-year development contract with Iraq earlier this year.

Leading service companies including Weatherford International, Halliburton, and Schlumberger were also said to have been invited to bid for another tender to drill 15 new wells, which could be awarded by early next year.

The state-owned Iraq Drilling Company was also invited to bid. Exxon and Shell were awarded the deal to develop the 8.7-billion-barrel West Qurna 1 oilfield last year.

Exxon and its partners raised their production plateau target for West Qurna 1 to 2.825 million barrels per day after adding new reserves to the area.

In March, Schlumberger was awarded a contract to drill new wells at BP‘s Rumaila oilfield.

(Source: Reuters)

Posted in Oil & GasComments Off

Halliburton’s $150m Majnoon Deal


Further to our report last week Halliburton has confirmed that it has been awarded a letter of intent by Shell Iraq Petroleum Development B.V. for the development of the Majnoon field in Southern Iraq.

Dow Jones suggests the contract for the 15 wells could be worth $150m.

The giant Majnoon field is one of the world’s largest oilfields. The letter of intent provides that Halliburton will serve as project manager for the development work, in affiliation with Nabors Drilling and Iraq Drilling Company (IDC). The contract is still subject to final approval by the appropriate Iraqi authorities.

Shell is lead operator and holds a 45 percent share, partner Petroliam Nasional Berhad (Petronas) holds 30 percent and the Iraqi state holds 25 percent of the participating interests in all licenses. Shell has announced that the consortium intends to increase production from the current ~45,000 barrels of oil per day to a targeted production plateau of 1.8 million barrels of oil per day.

“Halliburton has made a sizeable investment in Iraq and we look forward to providing services to Shell and the consortium in order to increase production at this historic oil field,” said Dave Lesar, Halliburton’s Chairman, President and CEO. “We have in place the technology, equipment and personnel to ensure that we deliver the solutions that will help our customers in this region to meet their production goals.”

Halliburton has been active in the Middle East since 1946. Currently, Halliburton has more than 4,000 employees in the Middle East, and construction on phase I of Halliburton’s 400-man base in Burjisia, Iraq is complete.

(Sources: Halliburton, Dow Jones)

Posted in Oil & GasComments (3)

IBN Newsletter 'FREE Weekly Subscription'