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Amarinth, a leading company specialising in the design, application and manufacture of centrifugal pumps and associated equipment to Oil & Gas, petrochemical, chemical and industrial markets, has won its first order in Iraq to supply 12 API 610 OH2 A-Series pumps for the Zubair Initial Production Facility and has appointed Horizon Development International (Basra) as its agent for Iraq.

Amarinth’s first order into Iraq was signed at ADIPEC 2012. The company has secured an order from Global Process Systems to supply 12 API 610 11th edition OH2 A-Series pumps in Super Duplex for the produced water treatment package for the Zubair Initial Production Facility located in Basra in southern Iraq.

Last year, US giant oil services company Weatherford International won the oil field facilities contract that will boost oil production from Iraq's Zubair oil field by some 300,000 bpd. Weatherford awarded Global Process Systems the contract to supply the produced water treatment package and within one month Global Process Systems placed the order with Amarinth for the pumps following the development of a close and successful working relationship on previous projects. The bespoke pumps are required on a tight 24 week delivery, lead times that Amarinth has proven on previous projects in the Middle East it can meet.

Whilst at ADIPEC 2012, Amarinth also finalised the appointment of Horizon Development International (Basra) as its agent for Iraq, further extending its footprint in the Middle East and giving the company direct access to the country’s rapidly expanding oil and gas market.

Oliver Brigginshaw, Managing Director of Amarinth, commented:

“We are delighted to have secured our first order in Iraq with the help of our new agent Horizon Development International. We see this as a significant growth region for the next 3-5 years and so it’s especially pleasing to have our first reference there. It is also extremely pleasing to be working with GPS again. We have built up a very good working relationship in the past and we are currently working on other live jobs with GPS for Iraq which we are also hopeful of converting to orders.”

(Source: Amarinth)

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Internationally acclaimed experts from across the oil and gas sector will be addressing the challenges and opportunities in the Iraqi market, at the upcoming Basra Oil & Gas International Exhibition & Conference.

Speakers from Weatherford, Gulf Energy, South Oil Company (SOC) and Penspen will put forward their views on technology, health & safety, laws & regulations, petrochemicals and many other topics related to the conference theme “Iraq: The Hub of Future Energy.”

Industry veteran, Mr. Falah Al-Kahawaja, ex-director general of State Company for Oil Projects, will manage the conference, bringing his wealth and experience of Iraq’s growing influence to the event.

Conference director, Mr. Falah Al-Kahawaja said:

“This conference provides an unrivalled opportunity for the oil and gas industry to understand more about Iraq and the expectations for the future. It is a complex market to navigate, and we want to provide a platform that gives local, regional and international companies interested in doing business in Iraq somewhere to share knowledge, experience and insight.”

With proven oil reserves of around 143 billion barrels, Iraq is the third biggest oil market in the world. With a total of 79 fields, only 23 of these are currently producing, signifying significant potential for the upcoming years.

The Basra Oil & Gas International Exhibition & Conference is now in its third consecutive year, having doubled in size year-on-year, as access to Iraq’s lucrative market becomes increasingly of interest for global oil and gas companies.

The exhibition will host over 400 companies, showcasing the very latest products and technologies from the market. Basra Oil & Gas International Exhibition & Conference will take place from 6-9 December 2012, at Basra International Fair Ground. For further information, visit www.basraoilgas.com

By John Lee.

The Missan Oil Company has announced the completion of 45 new oil wells in the province as well as the rehabilitation of a number of old wells.

The Director General of the Company, Ali M'arij, told AIN that "the Chinese company PetroChina drilled 30 new oil wells and rehabilitated six old ones in Halfaya oil field.

Additionally, Weatherford drilled 15 new oil wells, and rehabilitated several others at the Bazirgan field.

(Source: AIN)

(Photo: Weatherford rig at Bazirgan oilfield)

The Director General of Missan Oil Company has announced that 14 of the 20 oil wells at Bazargan [Bazirgan] oil field have been drilled.

He said that Weatherford accomplished the drilling operation in record time, and they were working on three of the remaining six wells.

The wells have provided production capacity of 6,900 bpd.

(Source: AIN)

(Picture: Weatherford rig at Bazargan oilfield)

By John Lee.

Baker Hughes has included Iraq in its international survey of rotary drilling rigs for the first time since 1990.

The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry.

The active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons.

The June rig count includes 79 rigs in Iraq. The worldwide rig count for June 2012 was 3,484 rigs, up 149 from 3,335 in May 2012, and up 227 from 3,257 in June 2011. The May 2012 and June 2011 figures do not include Iraq.

(Picture: Weatherford rig at Bazirgan oilfield in Maysan)

The Missan Oil Company has completed the Bazargan [Bazirgan] oil well #25, which is reported by AIN to have a capacity of 170, 000 barrel per day.

Ali Maarij, the Director General of the company said:

"The US company Weatherford  recently finished digging Bazargan well within Bazargan field ... The well entered the service with 11 wells out of 20 implemented."

(Source: AIN)

(Picture: Weatherford rig at Bazargan oilfield)

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Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.

Click here to access the report.

Companies Mentioned:

CNPC, DNO, Eni, Exxon, Genel Energy, Gulf Keystone, Heritage Oil, Lukoil, Rosneft, Shell, Statoil, Total, Weatherford

Action Calls:

• Reminder: Subscribe to the Market Tracker!: Today's is the last free Market Tracker! To subscribe, please click here and select your preferred subscription options.
• Rosneft rumored to be in talks with Exxon: Exxon reduces exposure as pressure ratchets up on Maliki.
• Eventful week for Iraq shows bifurcation of oil and gas industry: Both Erbil and Baghdad continue to make healthy progress as their oil development moves in different directions.

Headlines:

• Gorran objects to KRG budget: Reminder that Kurdish dissent exists and could affect effectiveness in face of Baghdad.
• Al Hal defects to Maliki on NC vote: NC is in effect dead, but Sadr will continue to milk it.

Calendar Events Discussed:

• June 24 - Parliament [finally] returns from 7 week break

Click here to access the report, or to select your preferred subscription option to receive the Iraq Market Tracker via email.

On Tuesday, Iraq's Cabinet approved an $843 million service contract granted to Weatherford International to install six power stations at the Zubair oil field.

Government spokesman and Minister of State Ali Al-Dabbagh told Bloomberg the plants will take 18 months to install.

Italian company Eni controls almost 33 percent of the Zubair project, with Iraq’s state-run Missan Oil Company owning 25 percent, Occidental Petroleum 23 percent, and Korea Gas Corp (KOGAS) almost 19 percent.

(Sources: Bloomberg, Reuters)

The Director General of the Missan Oil Company has announced that Weatherford has finished the drilling of three oil wells in Bazirgan oilfield.

The wells, (Bazirgan 30, 31, and 32) are part of a contract to drill 10 production wells and 10 reserve support wells.

Weatherford has already completed the drilling of Bazirgan 24, 25, 26, 27, 28 and 29.

(Source: Ministry of Oil)

The China National Offshore Oil Corporation (CNOOC) has presented its plan to develop three Maysan oil fields: Bazirgan, Fakka, Abu Gharb.

As part of the plan, Weatherford will drill 180 oil wells.

And after finishing the review there was a discussion about the plan, and the engineering staff in MOC shared their notes and questions about some items to achieve the targets and to enhance the production capabilities for the fields.

(Source: Ministry of Oil)