Tag Archives | Shell

The latest Shell Oil Company Iraq news – oilfields, pipelines, investment and more -brought to you by Iraq Business News

Antonoil, Petrofac “to take over Majnoon from Shell”

By John Lee. Oil executives have told Reuters that the Iraqi Oil Ministry has signed a two-year contract with China’s Anton Oilfield Services (Antonoil) and Petrofac to operate the giant Majnoon oilfield (pictured). The companies will operate the oilfield on behalf of the state-owned Basra Oil Company (BOC), which will take over operations from Shell […]

KBR, Anton Oil to replace Shell at Majnoon?

By John Lee. According to a report from Platts, the Iraqi oil ministry is about to award two management contracts to replace Shell at the Majnoon oil field. Sources say the state-run Basra Oil Company (BOC) has opted to operate the field instead of replacing Shell, and junior partner Petronas, which announced last year it […]

GKP appoints new Non-Exec Chairman

Gulf Keystone Petroleum (GKP) has announced the appointment of Jacobus (“Jaap”) Huijskes as Non-Executive Chairman effective as of 11 April 2018, immediately following the announcement of the Company’s 2017 Full Year Results.   Jaap Huijskes, who replaces Keith Lough as Chairman, joined the Board of Gulf Keystone in November 2017 as a Non-Executive Director.  Today’s […]

Shell Sells West Qurna-1 stake for $406m

Shell EP Middle East Holdings B.V. has agreed to sell the entire share capital of Shell Iraq B.V (SIBV), which holds its 19.6% stake in the West Qurna 1 oil field, for $406 million, to a subsidiary of Japan’s Itochu Corporation. The purchaser will also assume debt of $144 million as part of the transaction. […]

Saudi’s SABIC “in talks” to join Nebras Petchem Project

By John Lee. Saudi Basic Industries Corp (SABIC) is in talks to join Iraq’s Nebras petrochemical project, according to a report from Reuters. An advisor to Prime Minister Haider al-Abadi told the news agency at the CWC Iraq Petroleum Conference in Berlin that talks are at advanced stage at ministerial level. He said SABIC would enter […]

Majnoon Oil Output to Almost Double

By John Lee. Iraq reportedly plans to increase production at the Majnoon oilfield from 240,000 bpd now to 450,000 barrels within three years. Ahmed Abdul Razzaq, the head of a committee in charge of developing the field, told Reuters that the Basra Oil Company (BOC), which will take over operations from Shell, is studying proposals from […]

Japanese Firm Buys Shell’s Stake in West Qurna 1

By John Lee. Japan’s Itochu has reportedly bought Shell‘s 20 percent stake in the West Qurna 1 oilfield. Ihsan Abdul Jabbar, the head of state-run Basra Oil Company (BOC), told Reuters that the oil ministry discussed the required financial investments and operations at the field with Itochu, and approved the deal. West Qurna 1, operated by […]

KBR to help Develop Majnoon Oilfield

By John Lee. Iraq has reportedly reached an agreement with US engineering firm KBR to help manage projects to develop production capacity at the Majnoon oilfield. Shell is preparing to exit the Majnoon oilfield by the end of June 2018, handing it over to the state-run Basra Oil Company (BOC). Ihsan Abdul Jabbar, the head […]

Petronas confirms Exit from Majnoon Oilfield

By John Lee. Malaysia’s Petronas has reportedly confirmed that it will exit from Iraq’s Majnoon oil field along with joint stakeholder Shell. A spokeswoman for Petronas told The National: “Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with Shell on the handover of the field to the […]

Oil Ministry starts taking over Majnoon Ops

By John Lee. Reuters reports that Iraq’s oil ministry has said it had started to take over operations at Majnoon oilfield from Shell. Earlier this year, Shell said it will exit the field, which is expected to happen by the end of June. The ministry has formed a management team to handle production after the […]

Japanese Company considers Gas Pipeline and Petchem Plant

By John Lee. Iraq has reportedly contracted Japan’s Toyo Engineering to help build a gas pipeline to Kuwait and a petrochemical plant as Baghdad. According to a report from Reuters, the move will help Iraq to reduce flaring and finish paying the reparations owed to Kuwait for the invasion in 1990. The project would allow […]