By John Lee. As part of Iraq's government-backed gas development programme, the Ministry of Oil has reported significant progress in reducing gas flaring and increasing gas utilisation. It says the Ministry has raised associated gas capture from 53% to 70%, and dry gas production from 1,300 to 1,800 million standard cubic feet per day (mmscfd). […]
By John Lee. The Council of Ministers has approved an accelerated plan to develop the Akkas gas field in Anbar as part of the government's strategy to advance the oil and gas sector. The project will be led by the state-owned Midland Oil Company (MdOC), with Schlumberger implementing the first phase. The field is expected […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Rebalancing IOCs Positioning in the Upstream Petroleum Sector in Iraq The Ministry of Oil (MoO) recently concluded an agreement with BP covering four main oilfields in Kirkuk, following an earlier contract with […]
By John Lee. The Oil Ministry has reaffirmed its commitment to the development of the Akkas gas field, with Deputy Minister for Extraction Affairs, Eng. Basim Mohammed Khudair, chairing a meeting to assess the project's progress. Attendees included the Director General of Midland Oil Company (MdOC), the Director General of Reservoirs and Field Development, the […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, highlighted the government's commitment to gas investment as a key driver for economic and industrial development at the Iraq Britain Business Council (IBBC) Baghdad Conference on Monday. He outlined Iraq's major achievements in the oil and gas sector, including: Adding 380,000 barrels per day to […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
