Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq's oil production could rise to 4.4 million barrels per day (bpd) by 2015, according to a report by Bank of America Merrill Lynch on Friday. Reuters reports that the revision from 3.8 million bpd forecast a year earlier had been prompted by "higher reserve estimates" released by the government, the bank's commodities research team […]
Vast Exploration and Groundstar Resources have issued an update on the drilling progress of the Qara Dagh - 1 Exploration Well. Since the last update on December 13, 2010 the well has been drilled down to 2,522 meters, and over the past several days, an intermediate 9 5/8 inch casing string has been successfully set […]
Output at Iraq's Zubair oilfield has reached 265,000 bpd compared to baseline production of 184,000 bpd and Italy's Eni and its partners can start to recover investment costs, an oil official said on Wednesday, according to a report from Reuters. The service contracts that Iraq awarded to international oil companies stipulate that the firms start […]
The Rumaila Operating Organisation (ROO) has met a major milestone in the re-development of the super-giant field in Southern Iraq by increasing production by more than 10 per cent above the 1.066 million barrels a day (b/d) initial production rate agreed in December 2009. Meeting this production target, and the approval of the Rumaila rehabilitation […]
Iraq plans to invite international oil companies to develop the giant Nassiriya oilfield in a bidding round later this year, a senior Iraqi government official said on Monday. Pre-qualified Japanese companies will be invited to develop the field, along with other interested global oil firms, Deputy Prime Minister for Energy Affairs Hussain al-Shahristani told reporters, […]
Iraq's Northern Gas Company, through the Ministry of Oil, has issued tenders for the supply of : lathes - deadline 9th February; safety containers - deadline 6th February.
Iraq's Midland Refinery Company is looking for bids for the supply of a terminal automation system for its Daura [Doura] refinery. The deadline for the receipt of bids is 15th February. Please click here to download details.
The director of Missan Oil Company in Southern Iraq said on Tuesday that his company had achieved an increase in its oil production by more than 3 million barrels in 2010. “Our Company has achieved an increase in its oil production from its oil fields of 3.215 million barrels of oil in 2010, compared with […]
Iranian and Iraqi oil officials have reportedly reached an agreement to develop their joint oilfields in border areas, Press TV reported. "The two neighbouring states have signed an agreement for the development of joint oilfields," Mehr news agency reported on Sunday. The deal was inked during the first meeting of the two countries' joint executive […]
A 22-strong delegation representing 17 Northern Irish companies arrived in Erbil on Sunday on the first Invest Northern Ireland organised trade mission to Kurdistan. The companies, drawn from a broad range of local industries, will be meeting potential customers and community leaders in Kurdistan’s key business centre of Erbil during the week-long mission. The trade […]
Bloomberg reports that Fugro, the world’s largest surveyor of deepwater oil fields, is about to enter the Iraqi oil and gas business as the oil majors are stepping up their exploration and production in the country. “The security situation is improving,” Chief Executive Officer Klaas Wester said in an interview in Amsterdam on Friday. “We’re […]
The Chairman of Anbar Province’s Council has called on the Iraqi government on Saturday to invest in al-Risha oil field with, shared between Iraq and Jordan, and to lay down clear steps to exploit the field. “We call on the Iraqi government and the Oil Ministry to expoit al-Risha Oil Field on the Iraqi side […]
