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 […]
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Tags: Basra Oil Company (BOC), BP, featured, mn, PetroChina, Rumaila, Rumaila Operating Organization (ROO), State Oil Marketing Organisation (SOMO), Sulzer, water injection
Iraq Oil Exports increase again in November
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for November of 98,192,317 barrels, giving an average for the month of 3.273 million barrels per day (bpd), up from the 3.120 million bpd exported in October. The exports from the oilfields in central and southern Iraq amounted to approximately 95,860,149 barrels; we […]
KRG PM meets President of the Iraq Britain Business Council
By Editor on 30th November 2021 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News, Iraq Oil & Gas News
The Prime Minister of the Kurdistan Regional Government (KRG), Masrour Barzani, on Saturday met Baroness Emma Nicholson, President of the Iraq Britain Business Council (IBBC). Prime Minister Barzani highlighted the reforms of the ninth cabinet, its bid to diversify the economy and crucially to make the Kurdistan Region a focal point for business. Baroness Nicholson […]
Tags: Baroness Nicholson, featured, Iraq Britain Business Council (IBBC), KRG, Kurdistan News, Masrour Barzani, mn, United Kingdom
Block 10 More Attractive for Lukoil than West Qurna 2
Writing in Oil Price, Simon Watkins points out that the $5.99-per-barrel remuneration that Lukoil will receive under its technical service contract at Block 10 is considerably better than its $1.15/barrel payment at West Qurna 2. Block 10 includes the Eridu field, which has indicated oil reserves of between 7 and 12 billion barrels, and a […]
Tags: Block 10, Dhi Qar, Dhi Qar Oil Company (DQOC), Eridu field, featured, Inpex, Japan, LUKoil, Russia, Thi-Qar, West Qurna 2
Iraq Finalises October Oil Exports
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for October of 96,708,660 barrels, giving an average for the month of 3.120 million barrels per day (bpd), up slightly from the 3.081 million bpd exported in September. The exports from the oilfields in central and southern Iraq amounted to approximately 93,386,975 barrels, […]
Basra Energy Company established to run Rumaila Oilfield
By John Lee. The Iraqi Ministry of Oil has officially established the new Basra Energy Company (BECL), which will be the main contractor at the giant Rumaila oilfield, under a Technical Service Contract (TSC). Representing BECL at the ceremony, Zaid Elyaseri (BP) said the field will be developed to reach a peak production of 1.7 […]
Tags: Basra Energy Company (BECL), Basra Oil Company (BOC), BP, China, featured, Iraq Oil Production News, mn, PetroChina, State Oil Marketing Organization (SOMO), United Kingdom
IDC to Drill 37 Wells at Zubair Oil Field
By John Lee. The Iraqi Drilling Company (IDC) has signed a contract with Schlumberger to provide drilling services for 37 oil wells in the Al-Zubair field in Basra for the Italian company ENI, which will operate the field. The Director General of the Iraqi Drilling Company, Basem Abdul Karim, said that the contract includes the […]
Petronas opens New Well at Garraf Field
By John Lee. Petronas Carigali Iraq Holding B.V. has opened its K-123 well in the Garraf Contract Area in Dhi Qar. Present at the event were, Petronas Vice President International Assets of Upstream Mr. M Jukris A Wahab; Director, Managing Executive Officer and President of Middle East, Asia & Europe Project Division of Japex, Mr. […]
Tags: Dhi Qar, Dhi Qar Oil Company (DQOC), drilling, featured, Garraf, Gharaf, Gharraf, Japex, JOGMEC, Malaysia, Mitsubishi, mn, North Oil Company (NOC), Petronas, Thi-Qar
Chevron's Oil Deal with Iraq "is One to Watch"
Writing in Oil Price, Simon Watkins says that, given the negative history of dealing with China over the Nassiriyah project and the fact that Russia is occupied elsewhere in the country and the region, the United States might be in an unusually positive position to take a significant role in either the Nassiriyah field development […]
Tags: Chevron, China, featured, Integrated South Project, Nassiriya Integrated Project, Nassiriyah, Russia, South Iraq Integrated Project, United States
LUKoil files Development Plan for Iraq's Eridu Oilfield
By John Lee. Russia's LUKoil and Japan's Inpex Corporation have applied to Iraq's state-owned Dhi-Qar Oil Company (DQOC) for what Lukoil describes as "commerciality of reserves", and filed a preliminary proposal on the development of the Eridu oil field within Block-10. According to Lukoil, geological exploration has proved significant reserves, making Eridu the largest discovery […]
Tags: Block 10, Dhi Qar, Dhi Qar Oil Company (DQOC), Eridu field, featured, Inpex, Japan, LUKoil, mn, Russia, Thi-Qar
West Qurna-2 produces its One-Billionth Barrel of Oil
By John Lee. Iraq's West Qurna-2 oilfield has just produced its one-billionth barrel of oil. At a ceremony to mark the event, which was attended by Lukoil President Vagit Alekperov, Oil Minister Ihsan Abdul Jabbar said the field started with production of 220,000 bpd, rising to 400,000 bpd, with plans for peak production of 800,000 […]
INOC to Negotiate with Chevron to Develop Dhi Qar Oil Fields
By John Lee. The Iraqi Cabinet has authorised the Iraqi National Oil Company (INOC) to negotiate directly with US oil company Chevron to develop four oil fields in Dhi Qar Governorate. According to a statement from the Ministry of Oil, the fields constitute the Nasiriyah block, which has a target output of 600,000 barrels of […]