By John Lee. UK-based Hydro-C has won a contract to design and supply a solar power plant for Basra Oil Company (BOC) at Iraq's Majnoon oil field. The plant will be supplied from the UK and installed in Iraq. According to a statement from the Iraq Britain Business Council (IBBC), of which Hydro-C is a […]
By John Lee. Iraq's Deputy Prime Minister for Energy and Minister of Oil, Mr. Hayan Abdul Ghani, has opened a new road in the Abu Sakhir area and a high school in the Al-Zubair district of Basra Province. The inauguration ceremony took place on Thursday and was attended by the Deputy Minister for Extraction Affairs, […]
By John Lee. The Iraqi Drilling Company (IDC) has launched its largest drilling rig, IDC 57, at the Majnoon oil field. General Manager Khaled Hamza Abbas said the with 3,000-horsepower rig is modern, advanced and capable of drilling wells up to 8,500 meters deep. The technical and engineering teams have started drilling the Yamama appraisal […]
By John Lee. Iraq's Ministry of Oil has signed a Heads of Agreement (HoA) with the Chinese company Geo-Jade and the Iraqi company Crescent Basra (Hilal al-Basra) to invest in the integrated development project at the Tuba field, in the Zubair district of Basra. According to a statement from the Ministry, the project would have […]
By John Lee. The Ministry's Deputy Minister for Gas Affairs has inspected the gas project in Block 9 (Al-Fayhaa, Faihaa) in Basra province. Mr. Ezzat Saber said he hoped to utilize 130 million cubic feet per day of gas from the field by year-end, along with equipping power stations to process 100 million cubic feet […]
By John Lee. The Iraqi cabinet has approved what it described as a "final settlement" between the Ministry of Oil / Basra Oil Company (BOC) and Petrofac. The settlement reduces the amount to be paid for the second central processing plant (CPF2) in the Majnoon oil field from $30 million to $27.5 million. (Source: PMO)
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. TotalEnergies Agreement Smells Filthy The more information becomes available about this agreement, the more it exposes the extent of unfairness and damage to Iraq national interest, and the deception or scandal of […]
By John Lee. Under the patronage of Oil Minister Hayyan Abdul Ghani, Basra Oil Company (BOC) organized a ceremony for the handover of the main operator role for the West Qurna 1 oilfield. The event, attended by the Ministry's Deputy for Extraction Affairs Basim Mohammed Khudair, marked the transfer of management responsibilities to China's PetroChina, […]
By John Lee. The Iraqi Drilling Company (IDC) has accomplished the drilling of the directional oil well MJ-159 in collaboration with Halliburton, as part of the project to drill 42 oil wells in the Majnoon Oilfield for Basra Oil Company (BOC). Mr. Muhannad Maki Tarash, the Director of the First Operations Department at the company, […]
By John Lee. Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil has announced plans to increase gas production from the Siba Gas Field in Basra to 100 million cubic feet per day. Currently, the field produces 50-60 million cubic feet daily, and the goal is to double that output. During a recent […]
By John Lee. In its 39th regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet made important decisions concerning the oil sector and infrastructure development for exports: The Ministry of Finance will allocate the total cost of IQD 1,265,444,000,000 [$967 million] for the construction of offshore pipelines (4 and 5) and a […]
By John Lee. The Iraqi Ministry of Oil has received approval from the Ministerial Energy Council (Recommendation 23067/T) for a final settlement with ExxonMobil. This settlement, known as the "Settlement Agreement," resolves longstanding disputes arising from the service contract for the West Qurna oilfield project between Basra Oil Company (BOC) and US-based oil giant. The […]
