Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. DNO International has announced that two new high rate horizontal wells are now pumping oil at the Tawke filed in the Kurdish region. The combined rate of production of both wells is 37,000 bpd. By the year's end DNO expect to have 9 wells operational in the field, which they hold a […]
By John Lee. Surprising skeptics, the International Energy Agency has announced that Iraq's oil exports have hit 3.6 million bpd, a record 30 year high, The Wall Street Journal reports. Previously exports were falling due to export bottlenecks, bad weather and extensive work on infrastructure, while some northern areas such as Kirkuk were adversely affected by insecurity. […]
ShaMaran Petroleum has reported initial recognition of reserves as well as updates to estimated contingent resources and prospective resources for the Atrush block as of December 31, 2013. The reserves and resources estimates were provided by McDaniel & Associates Consultants Ltd., the Company's independent qualified resources evaluator, and were prepared in accordance with standards set […]
Sterling Global Operations (SGO) has been chosen to provide surface – supplied divers for unexploded ordnance search and removal and salvage operations for the sunken 82,000-ton VLCC (Very Large Crude Carrier) Amuriyah, an Iraqi tanker sunk near Bubiyan Island off the coast of Kuwait in Jan. 1991 during Operation Desert Storm. Special Diving Services (SDS) […]
Following approval of its declaration of commerciality by the Kurdistan Regional Government (KRG), WesternZagros Resources has announced that it is moving to develop the first of its two significant light oil discoveries. Once its development plan for the Sarqala field is approved, the Company expects to produce up to 10,000 barrels per day (bbls/d) of […]
By John Lee. Oryx Petroleum has announced two positive updates on its operations in the Hawler license area in Iraqi Kurdistan, in which the company has a 65 perccent participating and working interest: Testing of the DD-4 appraisal well on the Demir Dagh field achieved expected flow rates and confirmed reservoir and fluid characteristics. Henry Legarre […]
Gulf Keystone Petroleum (GKP) has this morning provided an Operational and Corporate update, and released a third party audit of the Company's reserves, contingent resources and prospective resources for its petroleum interests in the Kurdistan Region of Iraq. Summary The Company continues to maintain current stable production and sales levels of approximately 10,000 barrels of […]
Thales has been awarded a contract to provide an Integrated Security System (ISS) for the West Qurna-2 oil field development located 65 km northwest of Basra in Southern Iraq. This contract has been signed with LUKOIL Mid-East Ltd, a subsidiary of the Russian oil company LUKOIL. Thales will design and deploy the Integrated Security System […]
By John Lee. Iraq is to invest in the construction of a refinery in East Borneo, Indonesia. Indonesian Energy and Mines Minister, Jero Wacik (pictured), said that if construction started this year, the new refinery would start production by 2018. Platts reports that the head of the Iraqi delegation, Delman N Abdullah, said that Iraq agreed […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. MENA Natural Resources Governance Knowledge Hub – A Conceptual Framework In a constructive collaboration effort between Revenue Watch Institute (RWI) and the Lebanese Center for Policy Research (LCPS), a two day closed […]
By John Lee. Iraq produced oil at a rate of 3.5 million bpd in February, and exported at a rate of 2.8 million bpd, a sharp month-on-month gain and the highest such figure in at least a quarter-century, reports AFP. The deputy prime minister for energy affairs, Hussain Al Shahristani (pictured), said February output would have […]
Gazprom Neft has completed laying, testing and connecting a 165 km oil pipeline from the Badra field, which the Company operates in Iraq, to the Gharraf oilfield (Nasiriyah district, Iraq). With infrastructure already in place at Gharraf, completion of the pipeline from Badra means that the field is now connected to the main Iraqi pipeline […]
