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 Recoups Investment in Zubair

By John Lee. The state-owned Korea Gas Corporation (KOGAS) has said that it has recouped its $2.49 billion investment in the Zubair oil field in southern Iraq. According to a report from Yonhap, the company has recovered $2.53 million as of December, which exceeds its initial outlay. The oilfield is currently producing around 360,000 barrels […]

Petrofac Wins Iraq Contract with KOGAS

UK-based Petrofac has been awarded a Front End Engineering Design (FEED) modification contract for the KOGAS AKKAS B.V. Nasiriya Gas Treatment Plant (GTP) in southern Iraq. Petrofac’s scope of work includes the modification and application of an existing field design to meet the needs of the Nasiriya GTP, and an estimation for the engineering, procurement […]

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 […]

South Oil Company takes over Oxy’s stake in Zubair

By John Lee. The South Oil Company (SOC) has officially taken over the stake in the Zubair oil field formerly held by US-based Occidental Petroleum, which has withdrawn from the project. Repressentatives of Italy’s Eni and the Korea Gas Corporation (KOGAS) signed the agreement along with the Ministry of Oil. Mr. Laith Al-Shaher, the director general […]

DSI Wins $61m Zubair Project

Dubai-based Drake & Scull International PJSC (DSI) has announced that it has been awarded a AED 226 million ($61 million) engineering, procurement and construction (EPC) contract for the construction of a water injection network installation project at the Zubair oil field in Basra, Iraq by ENI Iraq B.V. (EIBV) a subsidiary of the Italian oil […]

Kogas to Sell Stake in Akkas Field

By John Lee. According to a report from Platts, South Korea’s state-owned Korea Gas Corporation (KOGAS) plans to sell a 47 percent stake in its 100 percent-controlled Akkas gas field. The company is under pressure from the Korean government to reduce its debts. The project was originally awarded to a consortium of Kogas and KazMunaiGas […]

Occidental to sell Zubair stake to Iraq’s South Oil

By John Lee. Occidental Petroleum intends to sell its stake in the Zubair oilfield to Iraq’s state-run South Oil Company (SOC), according to a report from Reuters. The news agency quotes ministry spokesman Asim Jihad as saying on Wednesday: “Occidental asked the ministry for permission to sell its stake in Zubair field and the ministry […]

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 […]