Tag Archives | South Oil Company (SOC)

Production Commences at Faihaa-2 well in Block 9

By John Lee. Kuwait Energy has announced the commencement of production from the Faihaa-2 well in the Block 9 concession. in Basra Governorate. The Faihaa 2 well was spudded on 3 January 2016, with production testing commencing on 23 September 2016 at 52/64 inch choke size at an initial rate of 9,583 barrels of oil […]

Iraq to cut Basra Oil Exports in November

By John Lee. Reuters reports that Iraq plans to cut crude oil exports from its southern ports to 3.24 million bpd in November, down from the 3.28 million bpd planned for this month. According to data from a preliminary loading programme of the State Oil Marketing Organization (SOMO), exports of Basra Light grade are expected […]

South Oil Company takes over Oxy’s stake in Zubair

By John Lee. The South Oil Company (SOC) has officially taken over the stake in the Zubair oil field formerly held by US-based Occidental Petroleum, which has withdrawn from the project. Repressentatives of Italy’s Eni and the Korea Gas Corporation (KOGAS) signed the agreement along with the Ministry of Oil. Mr. Laith Al-Shaher, the director general […]

Oil Exports Fall for Second Month

By John Lee. Iraq’s oil exports are expected to decline in June for the second month in a row. According to loading data tracked by Reuters and an industry source, Iraq’s southern exports in the first 29 days of June have averaged 3.14 million bpd, down 60,000 bpd from May. The head of the South […]

Southern Oil Exports below May levels

By John Lee. Reuters repors that crude oil exports from Iraq’s southern ports are averaging 3.144 million barrels per day so far in June. An official from the South Oil Company (SOC) said on Tuesday that this was down from the 3.2 million bpd achieved in May due to maintenance work and weather conditions. (Source: […]

New Dhi Qar Oil Company Gets $42m Capital

By John Lee. Iraq’s new Dhi Qar Oil Company (DQOC) is getting US$42 million in start-up capital following approval from the Iraqi Finance Ministry of Finance, according to a report from OilPrice. The company was spun off from the South Oil Company (SOC) in January, taking over four of its fields in Dhi Qar governorate; […]

Oil Exports ahead of Plan

By John Lee. Reuters reports that oil exports from Iraq’s southern ports have risen to an average of 3.494 million bpd in April, from an average of 3.286 million bpd in March. The South Oil Company‘s assistant general manager, Basim Abdul Kareem, added that export volumes in March and so far in April are higher […]

New Allegations of Massive Corruption in Iraq Oil Industy

By John Lee. An investigation by Fairfax Media — publisher of The Age and The Sydney Morning Herald newspapers — and The Huffington Post, claims that Monaco-based Unaoil has been involved in widespread bribery and corruption in the oil industry, including in Iraq, Iran and Libya. Following examination of tens of thousands of emails, the report says that Unaoil […]

Iraq sets up Dhi Qar Oil Company

By John Lee. Iraq has this week established the Dhi Qar Oil Company (DQOC), which will take over responsibility for the Nassiriya and Garraf oil fields. The South Oil Company (SOC) has been renamed the Basra Oil Company (BOC), following the transfer of the Dhi Qar assets to the new company. (Source: Reuters)

PetroChina, Exxon Approached to Boost Production

By John Lee. Iraq has reportedly approached PetroChina and ExxonMobil about investing in a multi-billion dollar project to help boost output from a number of smaller southern fields. The Deputy Chairman of the South Oil Company (SOC), Basim Abdul Kareem, told Reuters that the “Integrated South Project” consists of building oil pipelines, storage facilities and […]