New Detailed Map of Northern Iraqi Oil and Gas
WesternZagros Resources has just published the best publicly-available map of oil and gas exploration activity in Northern Iraq that we have seen so far. It includes recent activity and current forecasts for all fields in the area, and can be freely accessed by clicking here.
Weekly Security Update for 9th February 2012
Levels of violence fell in Iraq last week. At least 18 people were killed and 48 injured in nationwide incidents, making it the quietest week in at least two months. A total of 26 bomb attacks left six people dead and 41 injured. They were mainly low-yielding in terms of casualties and were likely designed […]
Hormuz Tensions and Iraqi Oil Exports
Iraq, and the entire Gulf region is nervously contemplating the risk of possible Iranian action to close the Strait of Hormuz in response to sanctions imposed by the US and EU. And that nervousness is echoed around the world, as something of the order of a quarter of the world's oil supply is shipped through […]
Sony Enters Iraq Market, Opens Erbil Store
Japanese electronics group Sony has opened its first outlet in Iraq in the city of Erbil, amid ambitious plans to expand further into the competitive Iraqi market. The showroom will have the brand's latest electronics on sale and will also provide a costumer care and maintenance service, according to the director of Sony in Erbil. […]
Work Starts on $31m 5-star Hotel in Kirkuk
The foundation stone of a five star hotel and shopping center was laid in Kirkuk on Wednesday, according to AKnews. The mall and hotel, the first project of its kind in the city, will cost $31.58m (36.8 billion Iraqi dinars). Construction will take over three years and will be undertaken by the Rekani company, based […]
Iraq could Lose 1.7m bpd Export if Hormuz is Shut
Bloomberg reports that Iraq would lose the capacity to export 1.7 million barrels of crude a day if Iran blocks the Strait of Hormuz. “Iraq will have to depend on the northern route from where it can export 450,000 barrels a day through Turkey’s port of Ceyhan on the Mediterranean,” Oil Ministry spokesman Asim Jihad […]
Iraq Delays Licensing Round Again
Iraq has postponed its next energy licensing round by more than a month to May 30, a senior government official has said. Speaking to Reuters on January 31, Abdul Mahdy al-Ameedi, the Oil Ministry’s Director-General, said the decision to move the date back had been made to allow potential bidders more time to study the […]
DNO Results "Well Above Market Expectations"
Ahead of the full year 2011 operational and financial results to be released on 15 February 2012, DNO International ASA has announced a strong end to the year just ended, well above market expectations. Operating revenue for Q4 2011 was around NOK 900 million and DNO expects to report full year 2011 operating revenue of […]
Weatherford Completes 3 Wells in Bazirgan
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, […]
CNOOC Presents Plan for Missan Oilfields
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 […]
Iraq Apprentices Increase Employers' Revenue
The Agency for Technical Cooperation and Development (ACTED) reports that 93% of entrepreneurs involved in its pilot apprenticeship scheme in Thi Qar [Dhi Qar] Governorate reported satisfaction with it, according to survey results assessing the scheme’s overall economic benefit and impact. Other preliminary findings are similarly positive: 69% of trainer employers reported that they increased […]
Iran Inks $200m Deal to Develop Joint Oilfield with Iraq
Iran’s Petroleum Engineering and Development Company (PEDEC) has reportedly signed a $200 million deal with domestic company Dana Energy to develop the Changooleh oilfield on the Iraqi border. Naji Sadouni, the managing director of the Iranian company told Mehr news agency that the deal aims to produce 15,000 barrels per day of crude oil in […]