Tag Archives | Rumaila

The latest Rumaila business news – BP, CNPC, the Rumaila Oil Contract and more – brought to you by Iraq Business News

BP Books Gain on disposal of Rumaila

By John Lee. Oil giant BP has disclosed that it booked a gain of $361 million in relation to the disposal of the group's interest in Iraq's Rumaila field. Its interest in Rumaila was transferred to Basra Energy Company (BECL) in 2021, which BP describes in its results announcement on Tuesday as "an associate of […]

New 'Carbon Light' Brine Plant opens at Rumaila

By John Lee. The National Energy Services Reunited Corp. (NESR) has announced the inauguration of its flagship 'Carbon Light' oilfield brine plant in North Rumaila. The project and opening ceremony were conducted with Basra Energy Company (BECL), the company set up on 2021 to operate the Rumaila Operating Organization (ROO). According to a statement from […]

Rumaila Oilfield to Reach 1.4m bpd by Year-End

By John Lee. State-run Iraqi News Agency (INA) has reported that the management of Rumaila oil field in Basra has announced plans to increase its daily production capacity to 1.4 million barrels by the end of this year. It quotes Emad Hasan Lafta, the operations director of the field, as saying that the current daily […]

New Contract with Siemens for Long-Term Maintenance at Rumaila

By John Lee. The German company Siemens has signed a contract for the long-term maintenance of the generation units at the Al-Rumaila gas plant in Basra province. Iraqi Minister of Electricity, Engineer Ziad Ali Fadel, welcomed the company's CEO and its technical team, and emphasized the need to prepare a work plan for maintenance projects, […]

Chinese Firm Wins $194m Drilling Contract in Iraq

By John Lee. A subsidiary of China National Petroleum Corp (CNPC) has reportedly won an engineering, procurement and construction contract worth $194 million to drill wells at Iraq's Rumaila oilfield. According to Channel News Asia, the contract was awarded to Daqing Drilling Engineering Company, which has been active at the field since 2010. More here. […]

Chinese Firm signs $390m Drilling Contract at Rumaila

By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has signed a major drilling engineering service contract for Iraq's giant Rumaila oilfield. The contract was signed on Sunday with the Basra Energy Company Limited (BECL), which was set up in 2021 to operate the field, and announced to the markets on Wednesday. […]

Natural Gas Liquefaction Plant opens at Rumaila

By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani has opened the first phase of the natural gas liquefaction plant project at Rumaila oil field. The project aims to utilize associated gas, and has a capacity of 200 million cubic feet per day in the first phase. By the end of this year, the project's […]

Plans to Increase Oil Production at Rumaila

By John Lee. The Iraqi Minister of Oil, Hayan Abdul-Ghani, has said that Iraq wants to increase production capacity of the giant Rumaila oilfield by 300,000 barrels per day (bpd). This would give it a potential output of 1.7 million bpd. He made the statement during his visit to to the field earlier this week, […]

Iraqi PM Doubles Down on Oil Deals with China and Russia

By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's New Prime Minister Doubles Down On Oil & Gas Deals With China And Russia It is possible that U.S. Secretary of State, Antony Blinken, believed for a moment that […]

New Water Injection Facility at Rumaila

One of the most advanced water pumping facilities in Iraq has been constructed at the Rumaila oilfield to help boost oil production and support the field's long-term strategy. Cluster Pump Station Six (CPS-6) is the first CPS facility to be built at Rumaila for around 40 years. It is also the first CPS constructed by […]

China to Snap Up Iraqi Oil Assets?

By John Lee. Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq. Reuters quotes Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week. Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate […]