Dow Jones reports that Iraq has agreed with oil majors to build a multi-billion-dollar oil field water injection plant in the south of the country, after disagreement over costs that suspended the project for months. The water injection project aims to provide water to maintain reservoir pressure to fields such as Rumaila, West Qurna Phase […]
Bloomberg reports that Iraq will ask companies to build an oil refinery when it invites bids to develop the Nasiriyah field south of Baghdad. Abdul- Mahdi al-Ameedi, the head of the ministry’s licensing department, said, “we will not develop the Nasiriyah oil field on its own but in tandem with the establishment of a refinery”. […]
Italian energy company ENI, operator of Iraq's giant Zubair oil field, said it was interested in more operations in the country after talks with Baghdad leaders. ENI's Chief Executive Officer, Paolo Scaroni, accompanied by the company's E&P COO, Claudio Descalzi, met with Iraqi Prime Minister Nouri al-Maliki in Baghdad to discuss the redevelopment of Zubair […]
According to a document obtained by Reuters from Iraq's oil ministry, Iraq's Zubair oilfield will reach its peak output target of 1.2 million barrels per day (bpd) by the start of 2017. The Zubair consortium plans to invest around $18 billion to upgrade the southern Iraqi field, spending $2.8 billion in 2011, $4.9 billion in […]
Italian firm Saipem, a subsidiary of oil group Eni, has been awarded a $469 million contract to expand oil export facilities in the southern port city of Basra, according to a report from AFP. The agency quotes government spokesman Ali al-Dabbagh as saying that the company has to complete the project within two years of […]
Reuters reports that four international oil companies(IOCs) have shown an interest in developing the Nassiriyah oilfield in Iraq. A senior oil official said on Sunday that Iraq may hold a mini-auction for the largely undeveloped field, following a number of unsucessful attempts to reach agreement with foreign firms. Talks with a Japanese group led by […]
Reuters reports on Wednesday that Iraq has awarded a $472 million contract for an oil export facility expansion and sub-sea pipeline to the Italian group Saipem, a subsidiary of oil group Eni. Saipem will build a single point mooring buoy (SPM) with an export capacity of 900,000 barrels per day and construct a 50-kilometre pipeline […]
The Italian oil company Eni, and its Saipem subsidiary, said in a statement Wednesday that they are the injured parties in an investigation into alleged bribes related to contracts in Kuwait and Iraq. BusinessWeek says Milan prosecutors are investigating whether executives took bribes from Italian engineering and construction firms for subcontracts in Iraq's Zubair oil […]
Iraq hopes to complete negotiations with European investors to build a new oil refinery in the city of Karbala [Kerbala], the country's Deputy Prime Minister, Hussain al-Shahristani (pictured), said on Friday. The projected 140,000 barrel per day (bpd) Kerbala refinery is part of a plan to build four new refineries, adding around 750,000 bpd of […]
A bomb attack on an oil storage depot in Iraq’s Zubair oilfield set one tank ablaze and halted pumping from the station, sources said on Sunday. AKnews reports that firefighters have got the flames under control, but 27,000 cubic meters of oil have been lost. Four devices were planted, one started the fire, two were […]
Reuters reports that Iraq's state-run Iraqi Drilling Company has started work at the Zubair oil field under a $250 million contract to drill 23 new wells in the field. Director Idrees al-Yassiri said the two-year contract also included overhauling 63 old wells in Zubair. "We have started executing the contract awarded to us by ENI […]
Iraq's state-run South Oil Company is holding talks with international oil companies to build three pipelines worth up to $500 million [600 billion Iraqi dinars], according to a report from Dow Jones Newswires. SOC's director-general said on Monday that the intention was to link key oil fields to the export system in southern Iraq. "We […]
