Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Wood secures c.$100 million of awards to reduce gas flaring in Iraq Wood, a global leader in consulting and engineering, has been awarded a series of decarbonisation contracts with a value of c.$100m for flare gas reduction and carbon efficiency project solutions across the largest oil fields in Iraq. Wood will deliver brownfield engineering, procurement […]
By John Lee. The US State Department has reiterated its support for energy agreements between American companies and the Kurdistan Regional Government (KRG), following reports that Iraq's federal Ministry of Oil has filed lawsuits against two such deals. During a press briefing on May 27th, spokesperson Tammy Bruce stated that the United States supports economic […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for April. Total exports of crude oil: 100,953,282 barrels. Exports from the oil fields in central and southern Iraq amounted to 99,752,879 barrels. Exports to Jordan amounted to 299,819 barrels. Exports from Qayyarah were 900,584 barrels. Average daily crude oil exports: 3.365 […]
By John Lee. The State Company for Oil Projects (SCOP) has completed a major horizontal directional drilling (HDD) operation to lay a 42-inch gas pipeline beneath the Tigris River in the Sayafiyah area, as part of the Mahmudiya-Bismayah project. The crossing spans 600 metres in length and reaches a depth of 22 metres, making it the […]
By John Lee. The Iraqi Ministry of Oil has presented a strategic roadmap to reduce carbon emissions in the oil sector, structured around three core pillars: reducing flared gas, utilising gas and cutting methane emissions, and electrifying oil production operations to lower the carbon footprint. The plan was outlined by Abdulbaqi Khalaf, Energy Advisor to […]
By John Lee. Dhi Qar Oil Company (DQOC) has signed a Heads of Agreement (HOA) with a consortium comprising KBR (USA), Dragon Oil (UAE), and Al Hurra International to develop the Abu Amoud and Saba [Subba] oilfields in Dhi Qar Governorate. The project will be undertaken as an integrated investment venture. The signing ceremony took […]
By Rouba El Husseini for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. 'Leave our marshes alone': Iraqis fear oil drilling would destroy fabled wetlands Plans to drill for oil in the protected Mesopotamian Marshes of southern Iraq have galvanised villagers […]
By John Lee. Russia's Gazprom and its consortium partners have signed the first amendment to the service contract for the Badra oilfield with Iraq's Midland Oil Company (MdOC). The signing ceremony, held on Thursday, was attended by Bassem Mohammed Khudair, Deputy Minister for Upstream Affairs; Russian Ambassador Elbrus Kutrashev; the Director General of Dhi Qar […]
By John Lee. Iraq's Ministry of Oil has signed a major contract for the South Basra Integrated Project with a consortium comprising China's Geo-Jade Petroleum and Iraq's Crescent Basra (Hilal Al-Basra). The agreement, signed on Wednesday marks the Ministry's first adoption of a fully integrated project model. Oil Minister Hayan Abdul Ghani described the deal […]
By John Lee. The Kurdistan Regional Government (KRG) and Iraq's federal government have entered into a new dispute over the legitimacy of two major energy agreements signed with American companies. On 19th May, Kurdistan's Prime Minister Masrour Barzani oversaw the signing of two agreements at the U.S. Chamber of Commerce in Washington, D.C., which the […]
By John Lee. HKN Energy and ONEX Group have signed a binding term sheet with the Kurdistan Regional Government (KRG) to develop the Miran gas field through their new joint venture, Miran Energy. Located in the Kurdistan Region of Iraq, the Miran gas field is estimated to contain 8 trillion standard cubic feet (scf) of […]
By John Lee. WesternZagros, a privately owned US exploration and production company, has announced its acquisition of the Topkhana block in the Kurdistan Region of Iraq. The acquisition is seen as a strategic milestone in enhancing the Kurdistan Regional Government's (KRG) energy security and electricity provision plans. The company says that when developed alongside its […]
