Tag Archives | Iraqi Oil Exploration Company

Petrel Resources eyes Opportunities in Iraq

By John Lee. Irish-based Petrel Resources has said that one of its main priorities has been re-building its presence in Iraq. In its financial results for the six months ended 30th June 2019, the company said: “While challenges remain, the Iraqi government encourages international investors with Iraqi operating experience.  The security situation has dramatically improved […]

Iraq to Increase Production at West Qurna 1

By John Lee. Oil production is to increase at the West Qurna 1 oilfield, according to Reuters. The news agency quoted Basra Oil Company (BOC) chief Ihsan Abdul Jabbar as saying on Wednesday that output will rise from 440,000 barrels of crude oil per day (bpd) to 490,000 bpd in the “next few days”. The […]

Schlumberger to Drill 40 Wells at Majnoon

By John Lee. US-based Schlumberger has won a deal with Iraq’s Basra Oil Company (BOC) to drill 40 new wells at Majnoon oilfield. In a statement on Wednesday, the Ministry of Oil also announced that the BOC had entered into a 19-month contract with the Iraqi Oil Exploration Company to carry out 2D and 3D […]

INOC takes over 9 State Oil Companies

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has transferred ownership of nine state-owned oil companies from the Ministry of Oil to the newly-created Iraqi National Oil Company (INOC). The Minister is also the President of INOC. The companies transferred to INOC ownership are: Iraqi Oil Exploration Company Iraqi Drilling Company (IDC) State […]

Iraq Plans to take over Mansuriyah Gas Field

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) as ordered Iraq’s state-owned oil companies to devise an urgent plan to develop the Mansuriyah (Mansouriya) gas field, following what he described as the delay and the failure of foreign companies to start developing the field. The field, in Diyala province, was awarded in […]

Lukoil signs Contract for Exploration at Block 10

Russia’s Lukoil has signed contracts with the state-owned Iraqi Oil Exploration Company to carry out seismic surveys at the Eridu field in Block 10, and also at Block 10’s southern and central parts, previously not part of the survey. The scope of appraisal works at Eridu field includes a 3D seismic survey of 983 square kilometers to […]

Gazprom, Luaibi discuss Badra Oil Project

A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Jabbar al-Luaibi, Minister of Oil of the Republic of Iraq, took place in St. Petersburg today. The parties discussed the Badra project, which is implemented in Iraq by Gazprom Neft. Currently, the Badra field produces as much as 77,000 barrels of oil per day. Gazprom Neft continues to […]

OEC Boss appointed Deputy Oil Minister

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi] has reportedly appointed a new Deputy Minister for upstream operations. Spokesman Asim Jihad told Reuters that Kareem Hattab [Kareem Hattab Jaafer] (pictured), who will oversee exploration and production, has previously served as director general of the state-owned Iraqi Oil Exploration Company. (Sources: Reuters, Iraq Oil Report)

LUKOIL completes 3D Seismic Survey at West Qurna-2

Russia’s LUKOIL has reported that it has completed a field 3D seismic survey at West Qurna-2 field. The survey covered an area of about 450 square kilometers. The Company has fulfilled all of its contractual obligations to the Ministry of Oil of Iraq. The high-quality seismic data obtained are required for the updating of the […]

Iraq plans Offshore Oil and Gas Exploration

By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has directed the Iraqi Oil Exploration Company (OEC) to start exploring Iraq’s coastal waters for new oil and gas reserves. Addressing an OEC conference, the Minister also emphasised the need to focus on areas bordering neighbouring countries. Iraq recently declared an additional 10 billion barrels […]

Bashneft Completes Surveys at Block 12

Russia’s Bashneft has completed field seismic surveys at Block 12 as part of the geological exploration programme approved by the Iraqi Ministry of Oil. The Oil Exploration Company, an Iraqi company specializing in geological and geophysical exploration, which won the open tender in the spring of 2014, has been employed as a contractor to conduct […]

Surprise Oil Find in Iraq

Iraq’s Oil Ministry announced on Wednesday that it has discovered a new oil field in the Missan [Maysan] province, and described it as the biggest achivement in 30 years. According to the report from AKnews, the Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] told a press conference: “Iraqi Oil Company and the Southern Oil Company […]