Tag Archives | West Qurna Oilfield News

The latest West Qurna Oilfield News – Baker Hughes, contract, Shell, Lukoil, Russia, new oil wells and more – brought to you by Iraq Business News.

Exxon Increases Production at West Qurna 1

By John Lee. Production at the West Qurna 1 oilfield has reportedly reached 465,000 barrels per day (bpd), following the completion of new crude processing facilities and oil storage tanks. Officials told Reuters on Monday that the field was previously producing about 440,000 bpd. Exxon‘s foreign staff were present at a ceremony to launch the […]

Iraq’s Oil Sector caught in crossfire between US, Iran

By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. ExxonMobil evacuated dozens of its non-Iraqi employees from Iraq on May 18. The evacuation follows a US State Department decision to withdraw its non-essential staff from the US Embassy in Baghdad and its consulate […]

Exxon Ex-Pats “to return to West Qurna 1”

By John Lee. According to a report from Reuters, employees from Exxon Mobil will start returning to work at the West Qurna 1 oilfield on Sunday. Sources told the news agency that the company had received assurances from the Iraqi Ministry of Oil and the Basra Oil Company (BOC) that its staff would receive extra […]

Iraq to Increase Production at West Qurna 1

By John Lee. Oil production is to increase at the West Qurna 1 oilfield, according to Reuters. The news agency quoted Basra Oil Company (BOC) chief Ihsan Abdul Jabbar as saying on Wednesday that output will rise from 440,000 barrels of crude oil per day (bpd) to 490,000 bpd in the “next few days”. The […]

Oil Minister slams Exxon decision to Evacuate Staff

By John Lee. Oil Minister Thamer al-Ghadban has criticised ExxonMobil‘s decision to temporarily evacuate staff from the West Qurna oil field as “unacceptable and unjustified”. In a statement on Sunday, he said the move was “political“, and pointed out that other international oil companies are continuing to work freely. According to CNN, the company evacuated […]

BGC to Increase Gas Output by 16% by end-Dec

By John Lee. The Basra Gas Company (BGC) is expected to increase production from its current level of 900 million cubic feet per day (mcf/d) to 1,050 mcf/d by the end of this year. A statement from the Ministry of Oil on Thursday added that the project aims to reach a target of 2,000 mcf/d […]

Saipem wins contract at West Qurna

By John Lee. Italy’s Saipem has been awarded a contract by ExxonMobil Iraq Limited for the DS6 project for the debottlenecking of the West Qurna field, in the south east of Iraq. Debottlenecking is a process that optimises a plant in order to increase its overall capacity. The works will have a duration of 23 […]

Basra Protests: Oil Minister Orders More Jobs

By John Lee. Protestors took to the streets of Basra for the fourth day on Wednesday, protesting the killing of a demonstrator by security forces, and demanding jobs and public services. According to AFP, protesters also blocked the road leading to the oilfields of West Qurna, while international oil companies (IOCs) have reportedly moved senior […]

Shell plans Major Expansion at BGC

By John Lee. Having sold its stake in the West Qurna 1 project to Japan’s Itochu, Shell is now said to be “fully committed” to the giant Basra Gas Company (BGC), which captures gas from Iraq’s southern oilfields. Frits Klap, managing director of BGC, told Reuters that processing capacity has more than tripled to 938 […]

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. […]

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 […]