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Chinese Consortium wins $594m Iraq Oil Processing Contract


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By John Lee.

Kuwait Energy Basra Limited (KE Basra), an indirect wholly-owned subsidiary of Hong Kong-based United Energy Group (UEG), has entered into the EPCC (engineering, procurement, construction and commissioning) contract with a Chinese consortium to provide a central processing facility including oil treatment system and auxiliary systems at Block 9 in Basra.

The contractor is a consortium formed on 31 December 2020 and consisting of China CAMC Engineering and CNOOC Petrochemical Engineering.

According to disclosure documents lodged with the Stock Exchange of Hong Kong, the contract price is US$593,584,975 and the work should be completed within 33 months from the date of commencement. (The foundation stone for the project has just been laid).

The main purpose of this central processing facility project is to increase crude oil production capacity of Block 9 to 100,000 barrels per day (bpd).

In its statement to the Hong Kong Stock Exchange, UEG added:

"Kuwait Energy Basra Limited is a limited liability company incorporated in British Virgin Islands and an indirect wholly-owned subsidiary of the Company.

"KE Basra is the operator of the Block 9 contract area located in the Basra Governorate, Southern Iraq, pursuant to the Exploration, Development and Production Service Contract with the contracting parties of Basra Oil Company (an Iraqi State Oil Company), KE Basra, Dragon Oil (Block 9) Limited and Egyptian General Petroleum Corporation."

(Source: UEG)

Posted in Iraq Oil & Gas News
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Beechcraft B300 Super King Air 350 plane

Textron awarded $15m Iraq Contract


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By John Lee.

US-based Textron Aviation Defense has been awarded a $15,669,011 firm-fixed-price contract with cost-plus-fixed-fee and cost-reimbursable contract line item numbers for support and sustainment of the Iraq Peace Dragon program.

This contract provides for field service representatives, program management, core/field engineering, and repair-and-return.

Work will be performed in Wichita, Kansas; and Martyr Mohammed Ali Air Base, Iraq, and is expected to be completed by Sept. 30, 2022.

This contract involves Foreign Military Sales (FMS) to Iraq and is the result of a sole-source acquisition.

FMS funds in the amount of $15,669,011 will be obligated at the time of award. The Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity (FA8620-17-C-3011).

(Source: US Dept of Defense)

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Marketing, business, computer 2 (Pixabay)

Suppliers chosen for UNMAS Contracts in Iraq


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By John Lee.

Two companies have won contracts with the United Nations Office for Project Services (UNOPS) for the provision of equipment to UNMAS in Iraq:

  • Lot 1 - Adalk Co Ltd, for the supply of Head Torch, Dragon Light, Digital Camera, Voice Recorder and Hand Torch: Contract value $20,000
  • Lot 2 - Alfarez for General Contracts, for the supply of Paint Brushes, Tape Measure, Rulers, Shovel and Backpack: Contract value $8,000
  • Lot 3 - Alfarez for General Contracts, for the supply of Explosive Detection Kit and Explosive Sample Containers: Contract value $17,000
  • Lot 4 - Alfarez for General Contracts, for the supply of Forensic Suits and Evidence Collection Bags: Contract value $3,060

(Source: UNGM)

Posted in Iraq Industry & Trade News
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Beechcraft B300 Super King Air 350 plane

Textron awarded $7.6m Iraq Contract


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By John Lee.

US-based Textron Aviation Defense has been awarded a $7,605,208 firm-fixed price contract with cost-plus-fixed-fee and cost-reimbursable contract line item numbers for support and sustainment of the Iraq Peace Dragon Program.

This contract provides support of the field service representatives, program management, core/field engineering and repair-and-return.

Work will be performed in Wichita, Kansas, and Martyr Mohammed Ali Air Base, Iraq, and is expected to be completed Sept. 30, 2021.

This contract involves Foreign Military Sales (FMS) to Iraq and is the result of a sole-source acquisition.

FMS funds are being obligated for this award. Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity (FA8620-17-C-3011).

(Source: US Dept of Defense)

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Beechcraft B300 Super King Air 350 plane

Textron awarded $12m Iraq Contract


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By John Lee.

US-based Textron Aviation Defense has been awarded a $12,548,081 firm-fixed-price modification (P00033) to contract FA8620-17-C-3011 for the Iraq Air Force Peace Dragon Program.

This modification adds the six months to Option Year Three of the multi-year basic contract. Work will be performed in Wichita, Kansas, and is expected to be completed March 31, 2021.

Total cumulative face value of the contract is $99,550,294.

(Source: US Dept of Defense)

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Dragon Oil CEO Ali Al Jarwan

Production to Increase at Al Faihaa Oilfield


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By John Lee.

Oil production in the Al Faihaa area (Block 9) in Basra is reportedly expected to increase in the coming year with increasing investment.

Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East that the company plans to increase production in Iraq to 100,000 barrels per day (bpd) by 2025.

(Source: Oil & Gas Middle East)

Posted in Iraq Oil & Gas News
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Abby Badawi, Chief Executive Officer of Kuwait Energy

Kuwait Energy signs Block 9 Farm-out Agreement


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Kuwait Energy Signs Block 9, Iraq Farm-out Agreement with Dragon Oil

Kuwait Energy (KEC) has announced the signing of the Block 9, Iraq Farm-out Agreement with Dragon Oil (a wholly-owned subsidiary of Emirates National Oil Company Ltd, the national oil company of Dubai).

As per the Farm-out Agreement, Kuwait Energy will assign a 15% participating interest in the Block 9, Iraq service contract comprised of 8.57% participating interest in Block 9, Iraq to Dragon Oil in consideration for US$100 million in cash; and 6.43% participating interest in Block 9, Iraq to Dragon Oil in settlement of a dispute with Dragon Oil in relation to a non-controlling interest in Block 9, Iraq.

The agreement was signed on 11 February 2018 by Ali Rashid al Jarwan, Dragon Oil Chief Executive Officer (CEO); and Abby Badwi, the CEO of Kuwait Energy.

Abby Badawi (pictured), Chief Executive Officer of Kuwait Energy, said:

"This is a great moment for Kuwait Energy and Dragon Oil. The extension of our Block 9 partnership with Dragon Oil has meant that both Companies can work as equal equity partners on the concession allowing us to best utilise our joint technical expertise in delivering the submission of the Block 9 full field development plan to the Iraqi government.

"The reduction in future Block 9 capital expenditure exposure coupled with the material cash injection strengthens Kuwait Energy liquidity position going forward."

The assignment of the 15% participating interest in Block 9, Iraq from Kuwait Energy to Dragon Oil remains subject to Iraqi government and partner approval. Post granting of these approvals, Kuwait Energy will remain the operator with a reduction in participating interest from 60% to 45%,

Dragon Oil participating interest will increase from 30% to 45% with the remaining 10% participating interest being held by Egyptian General Petroleum Company.

(Source: Kuwait Energy)

Posted in Iraq Oil & Gas News
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1 Comment

Ministry of Oil

New Firms Qualified for next Oil Licensing Round


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By John Lee.

Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced the five additional companies have been approved to bid for Iraq's "borderline onshore & offshore exploration blocks & fields."

The companies are listed as:

  • Dana Gas (UAE)
  • Dragon Oil (UAE)
  • Geo-Jade Petroleum (China)
  • Schlumberger (USA)
  • Zarubezhneft (Russia)

Eight companies had applied for approval.

The five successful companies will be eligible to compete along with the following companies which are qualified from previous licensing rounds:

The areas to be offered include the onshore exploration blocks of Khudher Al-Mai, Jebel Sanam (Jabal Sanam) and Umm-Qasr on the Kuwaiti border; the Sindbad, Huwaiza, Shihabi, Zurbatia and Naft Khana blocks on the Iranian border; and the offshore exploration blocks in the Iraqi regional waters of the Arab gulf.

The bidding process should commence in May, according to the following schedule:

(Source: Oil Ministry)

Posted in Iraq Oil & Gas News
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Beechcraft B300 Super King Air 350 plane

$15m to support Peace Dragon King Air 350 Program


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By John Lee.

Beechcraft Defense has been awarded a not-to-exceed $15,225,799 cost-plus-fixed-fee undefinitized contract action for the Peace Dragon King Air 350 program.

It will provide contractor logistics support, basic life support, program support, and repair and return, cost per flight hour, travel and fuel for the Peace Dragon King Air 350 program for the country of Iraq.

Work will be performed at Baghdad, Iraq, and is expected to be complete by Sept. 30, 2017.

(Source: US Dept of Defense)

 

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Sara Akbar, CEO of Kuwait Energy

Faihaa-3 commences Oil Production


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Kuwait Energy has announced the commencement of oil production from the Faihaa-3 well located in the Block 9 concession situated in the Basra Governorate.

The Faihaa-3 well started commercial production on 12 February 2017 at 40/64 inch choke size and has stabilized at a gross daily rate of 5,200 barrels of oil per day (bopd).

The well was spudded on 31 August 2016 and was completed on 11 February 2017. Currently, Kuwait Energy's Working Interest (WI) production in Block 9 stands at approximately 10,000 bopd.

Kuwait Energy holds a 60% interest and is the operator of the Block 9 concession, while Dragon Oil holds 30% and the Egyptian General Petroleum Corporation holds 10%. The Faihaa-3 well is located in the Block 9 concession and is producing from the Yamama formation.

Sara Akbar (pictured), Chief Executive Officer of Kuwait Energy, said:

"Today's announcement demonstrates the continued success of our Block-9 asset in Iraq.  The production rate achieved from the Faihaa-3 well marks another execution milestone in Kuwait Energy's capabilities and further adds value to this significant asset.

"Our continued success in Block 9 could not have been achieved without the unparalleled support from our team, the Iraqi Ministry of Oil, South Oil Company and our partners on the ground in Basra."

(Source: Kuwait Energy)

Posted in Iraq Oil & Gas News
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