Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Basra Oil Company (BOC) has signed two contracts for new drilling at the giant Majnoon oil field. China's Hilong Oil Service & Engineering Company is to drill 80 oil wells at a cost of $54 million, while the Iraqi Drilling Company (IDC) will drill 43 oil wells at a cost of $255 […]
By John Lee. Russia's Stroytransgaz has signed a preliminary contract for the exploration, development and production of Block 17, in Anbar province. At a signing ceremony in Wednesday, Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Abbas Ghadhban said that preliminary studies and information indicate the existence of oil reserves ranging between 2 […]
By John Lee. Genel Energy has confirmed that Chevron Sarta, as operator of the Sarta field (Genel 30% working interest), has signed a contract with Dubai-based OILSERV for the construction, installation, operation and maintenance of a 20,000 bopd central processing facility ('CPF'). OILSERV has been contracted for the facility through a lease agreement. The commissioning […]
By John Lee. The first shipment of Iraqi crude oil to Jordan under a new deal agreed in Februay has been sent on Sunday. According to a statement from the Jordanian Minstry Of Energy And Mineral Resources, the first trucks left from Baiji station in Kirkuk on Sunday, and are expected to reach the oil […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for July of 111,706,151 barrels, giving an average for the month of 3.603 million barrels per day (bpd), up from the 3.556 million bpd exported in July. These exports from the oilfields in central and southern Iraq amounted to 107,520,044 barrels, while exports […]
TechnipFMC plc (NYSE: FTI) (Paris: FTI) has announced that its Board of Directors has unanimously approved its plan to separate into two industry-leading, independent, publicly traded companies: RemainCo, a fully-integrated technology and services provider, continuing to drive energy development; and SpinCo, a leading engineering and construction (E&C) player, poised to capitalize on the global energy […]
By John Lee. Petrofac has said that a fall in first-half order intake was partly due to an investigation into the oilfield services company’s dealings in Saudi Arabia and Iraq. In its results for the six months ended 30th June 2019, Petrofac's Group Chief Executive Ayman Asfari commented: "Petrofac has delivered good results that reflect […]
By John Lee. The Basrah Gas Company (BGC) and Shamara Holding have reportedly signed a contract under which Shamara will supply electricity to the Basra Natural Gas plant. According to The National, the contract will enable the plant to process by-product gas that would other wise be flared from the Rumaila, Zubair and West Qurna-1 […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for July of 110,548,767 barrels, giving an average for the month of 3.556 million barrels per day (bpd), up from the 3.520 million bpd exported in June. These exports from the oilfields in central and southern Iraq amounted to 106,500,015 barrels, while exports […]
Abu Dhabi National Energy Company PJSC (TAQA) has announced that its subsidiary, TAQA Atrush B.V. (TAQA Iraq), has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly production volume exceeded 1 million […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil and the “Odious Contract’ Trap” with ExxonMobil’ Consortium Talks have intensified recently about the continuation of negotiations between the Ministry of Oil (MoO) and ExxonMobil/CNPC consortium that might […]
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Oil, budgets, Kirkuk still nag Baghdad-Erbil relations Meetings last month between representatives of Iraq's federal government in Baghdad and the Kurdistan Regional Government (KRG) in Erbil failed to produce […]
