Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Turkish officials are dismayed hearing about US concerns that Turkey’s decision to sign an agreement with ExxonMobil in northern Iraq is perceived as a threat to Iraq’s unity. Noting that it is ExxonMobil, a US company, that is going to do the exploration work in the Iraqi Kurdistan Regional Government's (KRG) area, the Turkish side […]
Advertising Feature With proven reserves of around 143 billion barrels, Iraq has the third largest reserves in the world situated across 79 oil and gas fields. Of these fields only 23 are currently producing, and it has only been in recent years that Iraq has administered bids from international and national oil and gas companies […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. An Iraqi government spokesman said that the Baghdad government has decided to grant foreign oil company workers in Iraq assistance in obtaining entry visas and residency permits, following many complaints of […]
DNO International ASA, the Norwegian oil and gas company, announced today that oil production from the Tawke field in the Kurdistan Region of Iraq has averaged over 100,000 barrels a day during the previous 72 hours as the Company conducts well and pipeline deliverability tests following its 2012 drilling program and facilities upgrades. "We are […]
WesternZagros Resources announced today its operating and financial results for the first quarter ended March 31, 2013, and additional key highlights and activities to date. Commenting on the first quarter results and subsequent events, WesternZagros's Chief Executive Officer, Simon Hatfield (pictured) said, "Our twin goals of increasing proven resources and production potential are our main […]
By John Lee. BP has reportedly allocated $2.85 billion to develop the Rumaila oilfield in 2013, up from $2.2 billion last year, of which only $1.9 billion was used. Salah Mohammad, head of the joint management committee for the project, also told Reuters that output at Rumaila would rise to 1.450 million bpd by the […]
By John Lee. WesternZagros Resources has announced that it has started its latest Garmian Block drilling program in the Kurdistan Region of Iraq. The Mil Qasim Upper Bakhtiari-1 well was spudded on May 19, 2013. This is the first of a planned three-well program to test the potential of the shallow Upper Bakhtiari Formation. With […]
Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, has announced its financial results for the first quarter ended 31 March 2013 with a net profit after tax of AED 241 million (US$ 66 million), an increase of 17% as compared to AED 206 million (US$56 million) in Q1 2012. Revenue […]
By John Lee. Iran plans to more than double its diesel exports to Iraq, according to Reuters. The director of the National Iranian Oil Refining and Distribution Company (NIORDC), Alireza Zeighami, said that Tehran will supply 3-5 million liters of diesel a day, an increase on the 2-million-liters-a-day agreement signed by Iranian Oil Minister Rostam […]
Shell is reported to be in “exploratory discussions” with the Iraqi government to lower the target for oil output at the Majnoon field. The Iraqi government agreed in January with Lukoil to cut targeted production at the West Qurna-2 field. It is also in talks with Exxon Mobil to reduce targeted output at West Qurna-1, […]
Shares in Afren have risen more than 5 percent since the publication of its Interim Management Statement on Thursday. In the statement, the company gave the following update on its operations in Iraqi Kurdistan: Barda Rash As part of the phased development of the field, Afren initiated production operations in August 2012 producing its first […]
By John Lee. PhotoSat has announced the completion of its satellite topography mapping of WesternZagros's Garmian Block in the Kurdistan Region of Iraq, using stereo satellite photos from the high-resolution Pleiades 1A and 1B imaging satellites. Pleiades 1A and 1B are the world's newest 50cm resolution satellites. The satellite topography mapping consists of an elevation […]
