Tag Archives | exploration

$8bn New Iraqi Energy Agreements with US Firms

The following commercial agreements worth as much as $8 billion were reached during a signing ceremony between U.S. energy companies and the Government of Iraq on August 19, 2020: Honeywell and the Ministry of Oil agreed to advance the development of the Ar Ratawi [Artawi] gas project, which will further enable Iraq to capture, process, and […]

Iraq to Sign Exploration MoU With Chevron

By John Lee. Iraq is reported to be planning to sign a memorandum of understanding with US-based Chevron to explore for oil in Dhi Qar (Thi Qar) province. A person familiar with the matter told Bloomberg that the deal would formalise Chevron's interest in exploring the eastern and western parts of Nasiriyah, the capital of […]

Iraq "The Best Place on Earth to find and Produce Oil"

By John Lee. Petrel Resources has said that its operations in Iraq, which had been dormant for some time, are "once again showing life". In its Preliminary Results for the Year Ended 31/12/19, the company said: "Our Iraqi, director, Riadh, is actively promoting our ongoing interest in participating in the development of the many oil […]

Iraq's Oil-Rig Count Tumbles

By John Lee. Iraq's oil-rig count has reportedly fallen by almost two-thirds this year. Iraqi sources told S&P Global Platts that the total now averages 32 rigs operated by IOCs this month, down from 88 rigs in December 2019. Federal Iraq is averaging 31 rigs this month, compared with 76 in December, while the Iraqi […]

Sanctioned Russian Firm may Develop Iraq's Block 17

By John Lee. Russia's Stroytransgaz has signed a preliminary contract for the exploration, development and production of Block 17, in Anbar province. At a signing ceremony in Wednesday, Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Abbas Ghadhban said that preliminary studies and information indicate the existence of oil reserves ranging between 2 […]

Rosneft plans Geological Survey in Kurdistan in 2019

By John Lee. Russia's Rosneft will reportedly conduct geological exploration in Iraqi Kurdistan this year. CEO Igor Sechin (pictured) is quoted as telling the annual general meeting: "The company continues to implement the project to develop fields in Iraqi Kurdistan in the Middle East, where a geological exploration program is scheduled for this year to […]

"Good Quality" Oil Bearing Reservoirs found at Taq Taq

Genel Energy has announced an update on activity at the Taq Taq field (Genel 44% working interest). The TT-29w well, which was drilled to appraise the northern flank of the Taq Taq field, has been completed as a producer after successfully encountering oil bearing Cretaceous reservoirs. The well, which was drilled to a measured depth […]

New Oil & Gas Blocks to be offered

By John Lee. Iraq has invited international oil companies (IOCs) to bid for contracts to explore and develop nine new oil and gas blocks. The blocks are along the borders with Iran and Kuwait, with one located in the territorial waters. According to Reuters, the bidding terms will be finalised by the end of May, […]

Important Oil Projects -- Dubious, Non-Transparent Contracts

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Developing Border Oilields and Utilizing Associated Natural Gas: Important Projects, Dubious and Non-Transparent Contracts Information from and about the Ministry of Oil has been published and circulated extensively, in the last few […]

New Oil Exploration Blocks Announced

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi] (pictured) has announced exploration and rehabilitation projects for nine exploration blocks in Iraq. These include the onshore exploration blocks of Khudher Al-Mai, Jebel Sanam (Jabal Sanam) and Umm-Qasr on the Kuwaiti border; the Sindbad, Huwaiza, Shihabi, Zurbatia and Naft Khana blocks on the Iranian border; and […]

Iraq plans Offshore Oil and Gas Exploration

By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has directed the Iraqi Oil Exploration Company (OEC) to start exploring Iraq's coastal waters for new oil and gas reserves. Addressing an OEC conference, the Minister also emphasised the need to focus on areas bordering neighbouring countries. Iraq recently declared an additional 10 billion barrels […]

Rosneft Starts Drilling at Block 12

Russia's Rosneft group has started drilling its first exploration well at Block 12 in Iraq. The Salman-1 well will be drilled to the measured depth of 4,245 m through Kurra Chine target horizon to be followed by further testing of five prospective targets. The Company plans to complete drilling in July 2017. Company of Rosneft […]