The initial development plan agreed by Exxon Mobil (XOM.N) and its partners for Iraq's West Qurna Phase One oilfield includes drilling eight new wells and overhauling up to 50 wells this year to boost output, an Iraqi oil official said on Monday. International oil service companies will be invited to drill four new wells and […]
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Four Injured in Blast Near Oil Company in Northern Iraq
Four security guards were injured Sunday when two explosive devices detonated near the entrance of an oil company in the northern Iraqi city of Kirkuk, a police source said. Security forces cordoned off the area and launched a search operation for those behind the blast, which targeted the North Oil Company, northwest of Kirkuk, Helo […]
Oil Ministry Achieves $1 Billion Surplus in 2010
Oil revenues in the first four months of 2010 reached $17 billion, exceeding by one billion the general budget’s expectations, spokesman for the oil ministry said on Friday.
State-Backed Overseas Majors Move In To Develop Iraqi Fields
CNOOC's attempts to enter a number of foreign markets, such as the US, rejected over concerns of control of strategically important energy assets - the firm has long been attempting to enter markets where it is likely to be greeted with less hostility, such as Iraq.
Baghdad Approval to Pay Foreign Oil Companies in Kurdistan is Temporary
Baghdad approval to pay for foreign companies in Kurdistan region is temporary and does not constitute a solution
Tags: Kurdistan News
Iraq's Nassiriya to Hit 100,000 Bpd in 2014
Iraq expects output at its Nassiriya oilfield to hit 100,000 barrels per day (bpd) in 2014, the head of state-run South Oil Co. (SOC) said on Friday, after the OPEC member decided to develop the field on its own.
Oil Output to Surge in Iraq
Iraq expects crude output from its southern oilfields, Rumaila, Majnoon and West Qurna Phase One, to reach about 2.1 million barrels per day (bpd) by the end of this year, the head of South Oil Company (SOC) said yesterday.
Tags: Iraq Oil Production News, Jaafar, Majnoon, Rumaila, South Oil Company, West Qurna Oilfield News
CNOOC in Technical Service Contract for Iraq's Missan Oil Fields
China's CNOOC Limited has announced that, the Company, via its wholly owned subsidiary - CNOOC International Limited, together with Turkish Petroleum Corporation (TPAO), have signed a technical service contract (TSC) for the development and production of the Missan Oil Fields within Iraq.
Rosneft Ventures into Middle East
Rosneft, the Russian state oil company, has made its first foray into the Middle East with an agreement to develop projects with Crescent Petroleum, an Emirates-based private energy company.
Tags: Crescent Petroleum, Rosneft
Iraq Oil Ministry Calls for Third Bidding Round
Iraq's oil minister on Thursday invited international energy companies to bid for contracts to develop three untapped natural gas fields in Middle Euphrates Provinces.
Tags: Gas fields, licence round
Iraq Gives Go-Ahead to Kurdish Oil Exports
The Iraqi federal government Tuesday approved a deal that would allow oil exports from oil fields in the semi-autonomous region of Kurdistan in northern Iraq, which have been on hold for the last seven months over a payment row with Baghdad, a cabinet spokesman said. "The cabinet has approved a request submitted by the oil […]
CNOOC Seals Deal on Iraq Oil Field
CNOOC and Turkish Petroleum Corp. have signed a 20-year contract to develop the Missan oil-field in southern Iraq By Chen Zhu CNOOC Ltd., the Hong Kong-listed unit of China National Offshore Oil Corp. has partnered with the state-run Turkish Petroleum Corp. (TPAO) to win a contract with Iraq to develop the lucrative Missan oil-field in […]
Tags: CNOOC News, Oil & Gas