By John Lee. Iraq's cabinet has approved an $589 million oilfield service contract with South Korea's Daewoo Engineering & Construction. The contract, approved on Tuesday, is for the engineering, procurement and construction of a gas separation facility at the Zubair oilfield. Production at the field is planned to increase from the current 320,000 barrels per […]
Alstom has secured a contract with Eni Iraq B.V. to build the 740 MW Zubair gas-fired power plant near Basra. The contract is valued at close to €400 million. For this turnkey project, Alstom will be responsible for engineering, building and commissioning the plant as well as supplying key equipment - most notably four highly […]
By John Lee. Samsung Engineering Co., Ltd. has officially announced that it was awarded the North (Hammar Mishrif) New Degassing Station Facilities contract for the ENI Zubair Oil Field Development project in Iraq, worth $840 million. The signing ceremony was attended by Samsung Engineering’s President & CEO Mr.Park Choong-Heum, South Oil Company’s Director General Mr. Dheyaa Jaafar […]
By John Lee. Iraqi oil minister Abdul Kareem al-Luaibi (pictured) has moved to reassure major IOCs in the wake of growing disgruntlement over bureaucracy. He remarked to reporters that his ministry " is keen to provide all kinds of support and cooperation for all international companies operating in Iraq, including contracting with companies within the oil […]
By John Lee. Tense negotiations between Baghdad and Italy's ENI came to a close just hours before ENI was supposedly going to call time on their Iraq operations, Reuters reports. ENI CEO Paulo Scaroni made his dissatisfaction clear to reporters on Tuesday before the new deal was struck, stating, "If they do not sign the contracts […]
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met on Monday in Baghdad to discuss Eni’s activities in the country. During the meeting, Mr Scaroni along with Claudio Descalzi, COO of Eni E&P, updated the Prime Minister on the development activities at the Zubair oil field and discussed the […]
By John Lee. Associated Press reports that the Italian oil company Eni has agreed to lower production targets at the Zubair oil field. It has also extending the length of the contract by five years. Eni says that the deal signed on Monday in Baghdad sets a new target at the field of 850,000 barrels […]
By John Lee. Eni has reportedly reached agreement with the Iraqi Ministry of Oil to cut the final production target at Zubair oil field to 850,000 bpd. Iraqi Oil Minister Abdul Kareem Luaiby [Elaibi] told reporters that he has agreed to the drop from the original target of 1.25 million bpd, and that Eni has […]
Shell is reported to be in “exploratory discussions” with the Iraqi government to lower the target for oil output at the Majnoon field. The Iraqi government agreed in January with Lukoil to cut targeted production at the West Qurna-2 field. It is also in talks with Exxon Mobil to reduce targeted output at West Qurna-1, […]
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met today in Baghdad to discuss Eni’s activities in the Country. During the meeting, which the company described as "cordial", Eni’s CEO updated the Prime Minister on the development activities of Zubair’s super giant field and confirmed Eni’s commitment and presence […]
By John Lee. Paolo Scaroni, the CEO of Italian oil and gas company Eni, spoke out on Wednesday to complain about the difficulties of doing business in Iraq. "Our adrenaline rush now is not what it was when we entered Iraq", he said ,"[it's] more complex than we first thought." On one hand, we could […]
The CEO of Italian oil and gas company Eni, Paolo Scaroni (pictured), said he expects the consortium led by Eni to invest $18 billion in the Zubair oilfield. He added that the group, which includes Occidental Petroleum Corp and South Korea's KOGAS, has already invested 4-5 billion euros in the project. Production at the field is […]
