Tag Archives | Petronas

The latest Petronas Business News – Majnoon Iraq Oilfield, contract, Shell Oil, Malaysia, crude oil and more – brought to you by Iraq Business

Heritage Oil – Preditor or Prey?

Rumours continue to fly regarding the fate of Heritage Oil (LSE: HOIL), the oil explorer with operations in Iraqi Kurdistan (pictured), which is said to be the target of takeover bid. The British Daily Mail newspaper reported last week that Malaysia’s state-owned oil and gas company, Petronas, was interested in the company, but Petronas denied […]

Halliburton Signs $150m Contract for Iraq’s Majnoon Oilfield

Halliburton signed the one-year contract with Shell on Tuesday to develop the Majnoon oilfield, according to a media source from Shell. Hanadi al-Salman told Aswat al-Iraq news agency that, “according to the new deal, Halliburton will set up operation centers to dig 15 new wells,” he added. When the contract win was originally announced in […]

Tenders for Rigs at Halfaya Oilfield

Bids are invited from oil service companies to supply two workover rigs for the 4.1 billion barrel Halfaya oilfield. The tender from state-run Maysan Oil Company, along with the China National Petroleum Company (CNPC), French oil major Total, and Malaysian state firm Petronas, closes on Nov. 28, and the offer must remain valid for 90 […]

$60m Allocated to Training Iraqi Oil Workers

Iraq’s Oil Ministry announced on Sunday that it has allocated $60m [72 billion Iraqi dinars] from the international licensing contracts sold this year to the development of technical skills amongst Iraqi employees working in the oil sector. At a press conference in Basra, the training director of the ministry’s technical institute, Ali Rahim Fayyad, told […]

Total CEO Cautious on Halfaya Ramp-Up

Total’s Chief Executive, Christophe de Margerie, said on Wednesday that he expected the company’s output in Iraq to grow slowly. “We are still in an insecure environment,” he said, according to a report from Reuters. “Don’t tell me security is there, don’t tell me that after the departure of certain soldiers that will create more […]

Petronas to Train Iraqi Engineers for Gharraf Oilfield

Petronas, the Malaysian state oil firm, has agreed to train 60 Iraqi oil engineers to help it develop the Gharaf oilfield. The engineers will attend an intensive 6-month course in Malaysia and will then be sent back home to supervise the company’s operations, according to a report from Azzaman. Petronas and Japan Petroleum Exploration Co […]

Gharraf Drilling to Start by December

Iraq’s oil ministry announced on Friday that it would begin drilling for oil in the southern Gharraf oil fields by the end of the year. Officials said initial production levels of 50,000 barrels per day from eight oil wells are expected. Malaysia’s state-owned oil company Petronas and the Japan Petroleum Exploration Company (Japex) signed a […]

Halfaya Drilling Starts in September

China’s CNPC and its partners plan to start drilling new wells next month in Iraq’s Halfaya oilfield as part of a plan to boost output to 70,000 barrels per day in 2011, a CNPC executive said on Tuesday, as reported by Reuters. CNPC has a 37.5 percent interest in the consortium with French oil major […]

More Details on Petrofac Contract

More details are coming to light regarding Petrofac’s new contract in Iraq, about which we reported last week. Dow Jones reports that the two crude-oil processing plants will be at Iraq’s super giant Majnoon oil field, which is run by Iraq’s state-run South Oil Co., Royal Dutch Shell PLC (RDSA) and Malaysia’s state-run Petronas, and […]

Halliburton Wins Majnoon Drilling Contract

Halliburton has won a contract to drill 15 wells at the super-giant Majnoon oilfield, operated by Shell and Petronas, according to a report this afternoon from Reuters. (Source: Reuters) Related articles: Moody’s Boosts Petronas Rating on Iraq Exposure Shell to Award Deals to Develop Iraq’s Oil Fields Iraqi Oil Ministry Sets 2014-15 Targets for Crude […]

Moody’s Boosts Petronas Rating on Iraq Exposure

Energy Risk reports that Moody’s has raised its rating of Malaysian state-owned Petronas’s A1 senior unsecured debt from negative to stable, despite the group’s riskier business profile following a major acquisition of a large oil field in Iraq. “We expect the company’s $20 billion capital expenditure for the Iraqi fields to be spread out over […]