BP and its partner China National Petroleum Corporation (CNPC) will be the first companies to be paid back by the Iraqi government for developing Iraq’s supergiant Rumaila oil field, a senior Iraqi oil official told Dow Jones Newswires. “The first company that we are going to pay back costs and remuneration fees to will be […]
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Gazprom Neft has completed the tendering process for the front end engineering design (FEED) for the Badra oil field in Iraq, with the contract being awarded to French Technip, according to Penn Energy. The project preparation is expected to be completed by June 2011. The tender award decision has also been taken for the road […]
Iraq’s daily oil production rose to 2.5 million barrels, the biggest since 2003, a spokesman for the oil ministry said on Wednesday. “The daily oil production rose by 10% through cooperation among national and foreign companies,” Essam Jehad told Aswat al-Iraq news agency, pointing out that this is the highest production since 2003. Iraq’s newly […]
“Major progress” is reported in negotiations between Iraq’s Oil Ministry and the local government in Anbar Province in western Iraq regarding the contracts to develop the gas fields in the province. Aswat al-Iraq quotes Assem Jihad, a leading Oil Ministry spokesman, as saying on Sunday that “the Oil Ministry has discussed with Anbar Province and […]
A multi-billion-dollar gas deal between Iraq and Royal Dutch Shell will be presented for ratification to the new cabinet once it has been formed, Iraq’s Oil Minister said. “We are still negotiating the contract,” Hussain Al Shahristani said after a graduation ceremony for the oil police, according to a report from Trade Arabia. The $12 […]
Eni SpA and its partners, Missan Oil Company, Occidental Petroleum, and Korea Gas Corp (KOGAS), have reached a key production target at Iraq’s Zubair oil field. Production at the field near the city of Basra has increased to 201,000 barrels a day from 183,000 when Eni and its partners took over management of the field […]
Italy’s Eni SpA and its partners will raise oil production from Iraq’s Zubair oil field 10% above its previous level of around 180,000 barrels a day by the end of this year, the company said on Tuesday. Dow Jones reports that once the 10% increase is achieved, Eni will start receiving payment in the form […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
A group led by Gazprom Neft aims to start drilling in Iraq’s Badrah oilfield next year as part of its plan to reach 15,000 barrels per day by the last quarter of 2013, a company executive said yesterday. Gazprom and its partners plan to issue a tender this month to drill three to four new […]
(Source: Petroleumworld.com) Iraq Prepares New Gas Field Licensing, Cuts Oilfield Signatory Bonuses Retroactively Iraq’s Oil Ministry has released plans to tender three gas fields—previously part of the first and second licensing rounds—to 15 invited companies and has named Shell, Total, and KOGAS as frontrunners, while also confirming that signatory bonuses for the renegotiated West Qurna-1 […]
Malaysia’s Petroliam Nasional Bhd, or Petronas, has started recruiting hundreds of Iraqis for four oil projects the company won during Iraq’s second licensing auction in December.
Iraq will invite 15 companies before the end of the year to bid to develop three gas fields and Royal Dutch Shell, Total and South Korea’s KOGAS are the favourites.