Tag Archives | Basra Oil Company (BOC)

Iraq to Increase Oil Export Capacity

By John Lee. Basra Oil Company (BOC) has reportedly said that third offshore pipeline at the Khor Al-Amaya Oil Terminal (KAAOT) (pictured) will be completed by the end of 2023. Acting Director General, Ahmed Fadel Dehaim, told the Iraqi News Agency (INA) that the new line will increase oil export capacity by 600,000 barrels per […]

Chinese Consortium wins $594m Iraq Oil Processing Contract

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 […]

Work Starts at $594m Oil Processing Plant at Block 9

By John Lee. The President of ┬áthe Iraqi National Oil Company (INOC) has laid the foundation stone for the $594-million crude oil processing plant at Block 9, within the Al-Fayha Oil Field in Basra Province. Ihsan Abdul-Jabbar Ismail said that the development is important for the production of light oil, with a target for this […]

Iraq to buy Exxon stake in West Qurna 1

By John Lee. The Iraqi cabinet has agreed to allow the Basra Oil Company (BOC) to take over ExxonMobil's holding in the West Qurna 1 oilfield, at a price of up to $350 million. Addressing media after Wednesday's cabinet meeting, Minister of Communications Arkan Al-Shaibani (pictured) said the cabinet also allocated an initial payment of […]

New Water Injection Facility at Rumaila

One of the most advanced water pumping facilities in Iraq has been constructed at the Rumaila oilfield to help boost oil production and support the field's long-term strategy. Cluster Pump Station Six (CPS-6) is the first CPS facility to be built at Rumaila for around 40 years. It is also the first CPS constructed by […]

Basra Energy Company established to run Rumaila Oilfield

By John Lee. The Iraqi Ministry of Oil has officially established the new Basra Energy Company (BECL), which will be the main contractor at the giant Rumaila oilfield, under a Technical Service Contract (TSC). Representing BECL at the ceremony, Zaid Elyaseri (BP) said the field will be developed to reach a peak production of 1.7 […]

Kadhimi "wants US Firm to replace Exxon" at West Qurna 1

By John Lee. According to a report from Reuters, the Iraqi Prime Minister Mustafa al-Kadhimi has told the press in Washington DC that he wants another American company to replace ExxonMobil when it exits the West Qurna 1 oilfield. Meanwhile, S&P Global Platts reports that Exxon filed an arbitration case against the state-owned Basra Oil […]

UK's Proserv Wins Contract at Majnoon Oilfield

By John Lee. UK-based global controls technology company Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels (WHCP) to the Basra Oil Company (BOC) for use on the Majnoon Oil Field in southern Iraq. The deal has been arranged through KBR, the Houston based engineering, procurement and construction management […]

Rumaila Oilfield "delivers Strong 2020 Performance"

The Rumaila Operating Organisation (ROO) has announced its 2020 performance results. The field's oil production rate averaged 1.392 million barrels per day (bpd), despite the impact of COVID-19, a budget reduction and compliance with instructions from BOC to reduce oil production, which reflected OPEC+'s request for Iraq to curtail oil exports. The year's strong performance […]

Iraq "formally asks" to buy Exxon's West Qurna stake

By John Lee. Iraq is reported to have formally asked to buy ExxonMobil's share in the West Qurna 1 oil field. Basra Oil Company (BOC) director, Khalid Hamza, told Reuters that the US company is attempting to sell its 32.7-percent stake for $350 million. More here. (Source: Reuters)

Iraq may Buy Exxon stake in West Qurna 1

By John Lee. Press reports quote Iraq's oil minister as saying that Iraq could buy ExxonMobil's 32.7-percent stake in the West Qurna 1 oil field. Ihssan Abdul-Jabbar Ismail told a news conference on Monday that the government might purchase the stake via the state-owned Basra Oil Company (BOC). BOC previously took over the Majnoon field […]