The latest news BP Iraq – Oil, oilfields, contracts, production and more – brought to you by Iraq Business News
Output at Iraq's Zubair oilfield has reached 265,000 bpd compared to baseline production of 184,000 bpd and Italy's Eni and its partners can start to recover investment costs, an oil official said on Wednesday, according to a report from Reuters. The service contracts that Iraq awarded to international oil companies stipulate that the firms start […]
The Rumaila Operating Organisation (ROO) has met a major milestone in the re-development of the super-giant field in Southern Iraq by increasing production by more than 10 per cent above the 1.066 million barrels a day (b/d) initial production rate agreed in December 2009. Meeting this production target, and the approval of the Rumaila rehabilitation […]
Iraq's daily oil production rose to 2.5 million barrels, the biggest since 2003, a spokesman for the oil ministry said on Wednesday. “The daily oil production rose by 10% through cooperation among national and foreign companies,” Essam Jehad told Aswat al-Iraq news agency, pointing out that this is the highest production since 2003. Iraq’s newly […]
Australian engineering contractor WorleyParsons (WOR.AU) has won a contract to carry out engineering and design work at BP's giant Rumaila oilfield in southern Iraq. Sources familiar with the deal said the front-end engineering and design (FEED) contract was awarded to WorleyParsons by the consortium which includes Iraq's state-run South Oil Company, BP and China National […]
Reuters, citing "industry sources familiar with the matter", reports that U.S. oil major ExxonMobil and its partners have awarded a contract to oil services firm Schlumberger to drill 10 wells in Iraq's West Qurna 1 oilfield. The contract award was finalised a few days ago but a final contract is yet to be signed by […]
As our weekly newsletter goes to press, BP has just announced a major new event for contractors interested in its giant Rumaila oilfield. There will be opportunities in the areas of: Engineering and Project Management Services (EPMS); Engineering, Procurement and Construction (EPC); and Construction. This is hugely significant to the development of Iraq's economy, as […]
As the lead contractor for the development of the super-giant Rumaila field in Southern Iraq, and on behalf of partners PetroChina Company Limited and the Oil Marketing Company of the Republic of Iraq, BP Iraq NV will be holding a Share Fair event at the Conrad Hotel in Istanbul on 22 November 2010. The objective […]
Further to BP's Share Fair event for contractors interested in working at the giant Rumaila oilfield, the consortium partners have prepared a very informative presentation on the project. Please maximise your browser window and click on the following pages to view the company's plans for what will be the world's second largest producing oilfield:
BP's boss in Iraq says the political impasse that has delayed the formation of Iraq's new government for more than six monthsit has had no effect on its work on Iraq's biggest oilfield. BP is moving ahead with developing the supergiant Rumaila oilfield and could award new contracts for work in the field later in […]
PetroChina , the world's second-most valuable oil and gas producer after Exxon Mobil Corp, said on Thursday that it wants to further strengthen relationships with Iraq as it looks for new sources of oil. It is also focusing on Venezuela and Kazakhstan. The company was also in discussions for cooperation agreements with BP in the […]
We recently reported on a constitutional challenge to Iraq's oilfield development contracts, which was being pursued by a former member of parliament - you can find our article here, with additional legal opinion here. The challenge centered on the Rumaila contract, signed with BP and CNPC in 2009, as a test case. According to Iraq […]
By Ahmed Salih Al-Janabi - Amereller Legal Consultants (in association with MENA Associates). This article was originally published in Who's Who Legal, and is reproduced in full with their permission. For additional analysis on the status of this challenge, please click here. The Supreme Court of Iraq is currently considering the legality of the Rumaila […]
