Tag Archives | Akkas

Why Iraq Awarded Vital Gas Field to Ukrainian Firm

By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why Iraq Just Awarded A Strategically Vital Gas Field To A Ukrainian Firm Russia-aligned Iraq has awarded the development of a crucial gas field to a Ukrainian firm. The importance […]

Iraq Oil Ministry Defends Deal with Ukrainian Company

By John Lee. The Iraqi Ministry of Oil has defended its decision to award the development of the Akkas gas field to little-known Ukrainian company, Ukrzemresurs. According to a statement from the Ministry, the decision followed Ukrzemresurs' application to the Contracts and Petroleum Licensing Directorate (PCLD), fulfilling the required standards and providing financial and legal […]

Ukrainian company to Develop the Akkas Gas Field

By John Lee. Iraq has signed a contract with Ukrainian company Ukrzemresurs to develop the Akkas gas field in Anbar Province. According to a statement from the Ministry of Oil, the goal is to increase national production by an additional 400 million standard cubic feet per day (MMSCFD) of gas within four years, to supply […]

Ukrainian Company to Develop Iraq's Akkas Gas Field?

By John Lee. Iraq's state-run Iraqi News Agency (INA) has quoted the Undersecretary of Extraction at the Ministry of Oil, Bassem Muhammad Khudair, as saying that the contract to develop the Akkas gas field will be granted in the coming days to a Ukrainian company. He did not name the company. Meanwhile, a official statement […]

Iraqi Oil Minister Highlights Recent Achievements

By John Lee. During the opening of the first Iraq Oil Projects Exhibition and Licensing Rounds Conference in Baghdad at the weekend, the Minister of Oil reiterated his claim to have increased Iraq's oil and gas reserves by adding 6 billion barrels of crude oil and 32 billion standard cubic feet of gas. (Oil reserves […]

Aramco Eyes Major Opportunity In Iraq

By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Aramco Eyes Major Opportunity In Iraq Following the recent China-brokered resumption of relationship deal between historical enemies Saudi Arabia and Iran, a deal for the Kingdom to develop two key […]

Iraq's Oil Ministry "Clarifies" statement on Saudi Aramco

By John Lee. Iraq's Ministry of Oil has issued a "clarification" on its previous statement regarding involvement of Saudi Aramco in the Akkas field in Basra. On Thursday, the Ministry originally stated that it had an agreement with Saudi Aramco to invest in the field. Later in the day, it issued a clarification, saying that […]

Saudi Aramco to Invest in Iraqi Gas Field

By John Lee. [Correction: After publication, the Oil Ministry issued a "clarification", stating that Aramco is merely "studying cooperation mechanisms" with regard to Akkas.] Iraq's Minister of Oil has announced an agreement with Saudi Aramco to invest in the development of the Akkas gas field in Anbar province. During his participation in the Iraqi-Saudi Coordination […]

Production Starts at Akkas Gas Field

By John Lee. Gas operations have begun at the Akkas gas field in Anbar governorate. A statement from the Ministry of Oil said production of 60 million standard cubic feet per day (MMSCFD) is being used to produce 90-95 megawatts of electricity. The State Company for Oil Projects (SCOP) built a 30-kilometer pipeline (pictured) to […]

Cabinet approves Exit of Kogas from Akkas Gas Field

By John Lee. The Iraqi Cabinet has approved the recommendation of the Ministerial Energy Council regarding a settlement agreement with the South Korean company Kogas, the operator of the Akkas gas field. The agreement includes a payment of USD 49 million in crude oil, to be made by the State Oil Marketing Organization (SOMO). According […]

Work Begins on Akkas Gas Pipeline

By John Lee. Work has begun on the project to extend the gas pipeline from the Akkas gas field to the Akkas power station, in the Qaim district of Anbar Governorate. The General Manager of the State Company for Oil Projects (SCOP), Shaker Mahmoud Khalaf, said the pipeline (pictured) will be 35 kilometers in length. […]