Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Genel Energy has announced that drilling operations on the QD-2 well at Qara Dagh (40% working interest and operator) have been suspended. As previously stated, the well had been side-tracked in response to encountering more complex geology above the target reservoir than expected. Two further side-tracks have been initiated, but the licence partners have now […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Oil Licenses Rounds - Views of the Architect and the Technocrat, Ten Years On Petroleum licensing rounds, 2009-2010, are the most significant and impacting development that took place in post 2003 […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for December of 101,579,927 barrels, giving an average for the month of 3.277 million barrels per day (bpd), almost equal to the 3.273 million bpd exported in November. The exports from the oilfields in central and southern Iraq amounted to approximately 98,570,290 barrels; […]
By John Lee. The preliminary principles agreement for the Al-Faw investment refinery project has been signed in Baghdad. The refinery will have a capacity of 300,000 barrels per day, while the petrochemical complex will be able to produce 3 million tons [per annum?]. The Minister of Oil, Ihsan Abdul-Jabbar Ismail, said that this project will […]
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; while […]
By John Lee. Genel Energy has announced the appointment of Yetik Mert (pictured) as an Independent Non-Executive Director, with immediate effect. Yetik has almost 40 years' technical, commercial, business development, and general management experience, including holding executive and non-executive Directorship roles across the energy utility and industrial sectors in MENA, CEE and the USA. Yetik […]
Al Majal Signs a Partnership Agreement with Iraq Drilling Company (IDC) Al Majal has signed a three-year partnership agreement with Iraq Drilling Company (IDC). The agreement aims to develop IDC's technical teams and to qualify its specialized maintenance workshops in accordance with international standards. In an online statement published by IDC, the company said that […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. IEITI Annual Reports Continue but Changes in Form, Quality and Substance are Crucial and Needed Iraq Extractive Industry Transparency Initiative (IEITI) issued its 2018 annual report and, currently, is processing its combined […]
By John Lee. The Iraqi Drilling Company (IDC) has started drilling a well "Ammara 19" at Missan Oil Company (MOC)'s Amara field, within the Mishrif reservoir. IDC's Director General, Bassim Abdul Kareem, said the drilling operations were carried out using the 2000-HP drilling rig "IDC 23". The planned depth of the well is 3,290 meters. […]
Gulf Keystone has provided an operational and corporate update: Jon Harris, Gulf Keystone's Chief Executive Officer, said: "We are pleased to announce that we have submitted a draft Field Development Plan to the Ministry of Natural Resources. While the timing of FDP approval is uncertain given the scale of the project, this is an important […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has signed a partnership contract with the Iraqi Drilling Company (IDC). The Director General of the IDC, Basem Abdul Karim, said that the contract includes the provision of support and completion of the work associated with drilling and reclamation operations at Iraqi oil […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq Revenue Forecasting Model -- A Critical Assessment INTRODUCTION This review was prepared upon request from known international organization (XXX) regarding two documents prepared by a consultant (CCC) on Iraq Revenue Forecasting […]
