Tag Archives | KOGAS Iraq News

The latest Kogas Iraq News – Korea Gas Corporation, oil field, gas, Korea, KazMunaiGas, Mansouriya & more – brought to you by Iraq Business News

KOGAS to Invest $4.9bn in Zubair

By John Lee. The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield. In a stock exchange filing, the company said this investment is part of the total $19.4 billion capital expenditure required for the project, and added that it […]

Gazprom: Badra Production Doubled

By Robert Tollast. Russia’s Gazprom Neft has announced that production at the Badra field in Wasit province is close to double last year’s production, now reaching 28,000 bpd. Gazprom Neft’s commercial production and exports at Badra started in September last year, after the company signed a contract to develop the field in January 2010, as […]

Akkas Pipeline Cancelled

By Robert Tollast. Korean firm STX Heavy Industries has cancelled a proposed 500km pipeline to the Akkas gas field in Western Iraq, which is operated by state Korean gas firm KOGAS. STX Heavy were working on the project with KOGAS Akkas B.V and work was due to be finished in 2017, however the project ran […]

Gazprom Starts Oil Deliveries from Badra

By John Lee. Russia’s Gazprom Neft, the operator of the Badra oil field (pictured) in Iraq, has announced that first oil from the field is now being delivered to Iraq’s main pipeline system for transfer to the export terminal in Basra, on the Persian Gulf. Current deliveries from Badra to the pipeline stand at over […]

KOGAS in $4.9 Billion Project

By Patrick Schmidt. On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project. The investment will help establish the facilities needed to launch the project and help Zubair reach its potential of over 800,000 barrel per day production. KOGAS have a 23% stake in the Zubair […]

Daewoo Wins $589m Gas Separation Contract

By John Lee. Iraq’s cabinet has approved an $589 million oilfield service contract with South Korea’s Daewoo Engineering & Construction. The contract, approved on Tuesday, is for the engineering, procurement and construction of a gas separation facility at the Zubair oilfield. Production at the field is planned to increase from the current 320,000 barrels per […]

Gazprom Raises Cost Estimate For Iraq Field

Russia’s Gazprom Neft has increased its estimated costs for the Badra oil field to about US $3 billion, reports Bloomberg, citing a bond prospectus recently issued by its parent company. The company had previously forecast costs at about $2 billion. The field is being developed by Gazprom as lead partner (30% stake), along with Korea’s […]

Capital Gain Tax on IOCs in Iraq

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many countries impose capital gain tax on individuals, companies and corporations when a profit realized from the sale of assets. National and state legislation often has a large array of fiscal obligations […]