Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
CNN's Fareed Zakaria speaks with Paul Brinkley, former U.S. Deputy Under Secretary for Business Transformation with the Department of Defense, about his efforts to get major American companies to set up in Iraq: (Source: CNN)
Dana Gas PJSC, the Middle East’s leading private-sector natural gas company, and Crescent Petroleum, the Middle East’s oldest private oil and gas company, in their capacity as joint operators, have announced that the total investment on behalf of the partners in gas operations in the Kurdistan Region of Iraq has exceeded US$1 billion. Total cumulative […]
By John Lee. The Missan Oil Company has finished drilling one of the new wells at the al Halfaya field. Director General of the company, Ali Imurig Soadj, said that the BOHI company, contracted by Petrochina, completed the HF-107-K107 well at the al Mushrif reservoir. Thirty-five wells have been drilled at Halfaya, including 8 old […]
By John Lee. Iraq plans to spend $130 billion on the country’s upstream sector over the next five years, according to a report from Bloomberg. Speaking at a conference in Basra, Oil Minister Abdel-Kareem al-Luaibi [Elaibi] (pictured) said the expenditure will be necessary to help raise production capacity to 9 million barrels a day (bpd). […]
The Iraq Britain Business Council (IBBC) has welcomed a new initiative to boost the Iraqi jobs market. A weekend conference in Basrah - sponsored by the Ministry of Oil and supported by Shell - has been investigating how to revitalise the Iraqi private sector by ensuring contracts with oil majors went to local firms. Oil […]
ShaMaran Petroleum has announced its financial and operating results for the year ended December 31, 2012. Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States Dollars. Highlights The Company announced on February 4, 2013 an increase of 35% in Best Estimate 2C Contingent Resources […]
The United States Government, through the U.S. Agency for International Development (USAID), signed a Memorandum of Understanding with the Iraqi Ministry of Oil on March 17. This agreement outlines U.S. support for the Ministry to improve the effectiveness and transparency of its operations. Held at the U.S. Embassy in Baghdad, the signing ceremony was attended […]
By John Lee. Indonesia's Coordinating Minister for the Economy, Hatta Rajasa (pictured), has said Pertamina is considering taking a stake of up to 20 percent in the West Qurna-I block, which is owned by Exxon Mobil. According to a report from Fox Business, Mr. Rajasa told reporters: "Exxon has got a new oil field in […]
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A decade after war and the toppling of dictator Saddam Hussein, Iraq's Kurdistan is experiencing a construction and economic boom: (Source: Jewish News One)
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. Iraq is close to completing design of a pipeline to carry Iraqi oil to Jordan and Egypt through the Gulf of Aqaba. Once completed, the project is to be handed over […]
Afren has announces an update on the on-going testing programme on the Hunt Oil Middle East (HOME) operated Simrit-2 well, yielding incremental flow rates of 5,368 bopd, with a cumulative rate of 18,952 bopd from six of the 12 zones tested. Following the conclusion of drilling operations at the Simrit-2 well, located on the northern […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced that seven international oil companies (IOCs) have been selected to bid for the development of its Nasiriya oilfield and refinery: Zarubezhneft, from Russia (Up and Downstream); CNPC, from China (Downstream); Brown Energy, from US (Downstream); Reliance Industries, from India (Up & Downstream); Lukoil, […]
