Tag Archives | Iraq Oil Production News

The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News

Deloitte Report on Oil and Gas in Kurdistan

Pursuant to the Kurdistan Regional Government Council of Ministers resolution No.73 (3 February 2016) establishing an independent review of the oil and gas industry, today new verified data on oil exports, consumption and revenues have been published covering the period from 1 July 2017 to 31 December 2017. This is a continuation from the first […]

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Iraq Invests to Boost Nasiriyah Oil Field

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has ordered the state-run Dhi Qar Oil Company (DQOC) and Iraq Drilling Company (IDC) to develop the Nasiriyah oil field in Dhi Qar province. He said the Ministry has budgeted $140 million to raise production from the current 90,000 barrels per day (bpd) to 200,000 […]

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DNO Passes Peshkabir Production Target

DNO ASA, the Norwegian oil and gas operator, today announced that a fourth well has been put on production at the Peshkabir field in the Kurdistan region of Iraq pushing total output past the previously published target of 30,000 barrels of oil per day (bopd). The Peshkabir-5 well is currently producing around 8,000 bopd from […]

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DNO Picks Up Peshkabir Production in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced a two-thirds increase in production from the Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 25,000 barrels of oil per day (bopd) following completion of the Peshkabir-4 well testing program. The well has been placed on production at a rate […]

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New Development Plan for West Qurna-2

LUKOIL and the Basra Oil Company (BOC) signed a Development Plan for the West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected […]

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BP signs Contract to Develop Kirkuk Oil

By John Lee. The Ministry of Oil has announced that BP has signed a contract to develop the Kirkuk oil fields. According to Reuters, the deal with the North Oil Company (NOC) will see BP will boost output capacity from the six fields in the Kirkuk region to more than 1 million barrels of oil […]

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Gazprom Neft commissions Second Well at Sarqala

Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a second well — the Sarqala-2 — at its Sarqala field (within the Garmian block), located in the Kurdistan Region of Iraq (KRI). The new well is currently producing 11,000 barrels per day (bpd), with potential to increase this to 15,000. Total daily production at […]

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5 Firms Shortlisted for Major Water-Injection Project

By John Lee. According to a report from Platts, Iraq has shortlisted five international engineering companies to bid for the first phase of the Common Seawater Supply Project (CSSP), a major water-injection project that will help the country boost long-term production from its southern oil fields. The project would take in around 5 million barrels […]

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DNO announces Higher Revenues, Profits, Production, Reserves

DNO ASA, the Norwegian oil and gas operator, today released its 2017 Annual Report and Accounts together with its 2017 Annual Statement of Reserves and Resources and reported improvements across key financial and operational metrics. Annual 2017 revenues climbed to USD 347 million, up 72 percent from year earlier levels. Operating profit totaled USD 521 […]

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Iraq to launch new “Basrah Medium” Crude Oil Grade

By John Lee. Platts reports that Iraq plans to launch a new Basrah Medium crude oil grade “whenever logistics allow,” to provide “more stability” in existing grades. It quotes Ali Nazar al-Shatari, the Deputy Director General of the State Oil Marketing Organization (SOMO) as saying the new grade will have an API gravity of 29-30 degrees, […]

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Total may Bid for Nassirya Oil Refinery

By John Lee. France’s Total is said to be interested in bidding to build the greenfield 150,000-bpd Nassirya oil refinery. The Director General of the Dhi Qar Oil Company (DQOC), Ali Warid Hammood, told Reuters at the CWC Iraq Petroleum Conference in Berlin that bids are still open for the project, and that international oil […]

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Iraq to Increase Oil Capacity by 40%

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has said Iraq plans to increase its crude oil production capacity from 5 million bpd at present to 7 million bpd by 2022. According to a report from Reuters, he added that Iraq needs $4 billion for new investments in its downstream oil industry, […]

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