Tag Archives | oil production

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

DNO Doubles Capacity at Tawke

Norwegian oil and gas operator DNO today announced the doubling of capacity at its flagship Tawke field in the Kurdistan region of Iraq to 200,000 barrels of oil per day (bopd). The 200,000 bopd wellhead, processing and pipeline capacity milestone was reached in less than two years with 10 new horizontal wells and the construction […]

Oil Insiders Sceptical on Increased Prodn

By John Lee. A report from Reuters suggests that Iraq’s oil output in 2015 is likely to remain flat as Baghdad struggles to cope with low oil prices. Oil executives and market experts say that increasing production next year will be even more challenging if prices remain low, and if Baghdad fails to repay oil […]

BP’s Kirkuk Contact Extended

By John Lee. The President of BP Iraq, Michael Townshend, has said that the company has extended an agreement with the Ministry of Oil to boost production at the Kirkuk oilfield. Reuters quotes him as saying “We had a letter of intent, which was for a year, and we extended that until the end of this […]

BP Takes More Oil as Payment

By John Lee. The President of BP Iraq has said that the company has been lifting more crude oil cargoes in the past couple of months, as payment for its work in the Rumaila oil field (pictured). Michael Townshend told reporters that current production at Rumaila is about 1.4 million bpd and is expected to remain […]

Lukoil “was asked to Reduce Iraq Output”

By John Lee. Russian oil company Lukoil was asked to “sharply reduce” output at West Qurna-2 this year, reports Reuters. Ravil Maganov (pictured), head of the company’s upstream division, told reporters: “We’ve got the letter to curb our enthusiasm … We were restricted to 250,000 barrels per day (bpd) due to weather and level of […]

IS “Controls Just One Oil Field in Iraq”

By John Lee. The German newspaper Sueddeutsche Zeitung reports that the Islamic State (IS, ISIS, ISIL) now has control of just one functioning oil field in Iraq, the Qayara field south of Mosul in Nineveh Province. As a result, oil production in areas under its control is now estimated at 2,000 bpd, just 5 percent […]

DNO Hits 100m Barrels from Tawke

By John Lee. DNO, the Norwegian oil and gas operator, produced its first 100 million barrels of oil at its flagship Tawke field in February. Executive Chairman Bijan Mossavar-Rahmani told a conference in Oslo: “Output will pick up at Tawke this spring with the expansion of the field’s capacity to 200,000 barrels per day.” A […]

New Tank Farm to Stabilize Oil Exports

By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] has announced a plan to build new oil storage tanks to help smooth oil production during bad weather. Iraq’s exports were restricted in January due to bad weather in the Gulf. (Source: AIN) (Oil tanks image via Shutterstock)