As predicted, ExxonMobil and its Iraqi partners have reached "a major milestone" for oil production at the West Qurna oil field in southern Iraq, according to a report from UPI. ExxonMobil announced field production at West Qurna-1 rose from 244,000 barrels of oil per day to 285,000 bpd under the terms of its technical services […]
Reuters reports that ExxonMobil is expected to raise production at Iraq's West Qurna I oilfield by 10 percent over the agreed baseline this month or in early April. When asked when Exxon would hit its initial production target in West Qurna, Abdul-Mahdy al-Ameedi, head of the Oil Ministry's licensing and contracting office, told Reuters,"God willing, […]
Fluor Corporation has announced that ExxonMobil Iraq Limited has awarded the firm an early works program contract for the West Qurna (Phase I) field near Basra, Iraq. The engineering, procurement, construction and management contract is a reimbursable continuing services agreement for oil field and related infrastructure development with an expected duration of three years. Fluor […]
Royal Dutch Shell may build its own dock in Iraq's Shatt al-Arab waterway to speed up delivery of heavy equipment to its supergiant Majnoon oilfield, according to a report from Reuters. The head of the General Company of Iraqi Ports, Salah Kudhair, told the agency that it had given initial approval to a proposal from […]
Production from Iraq's West Qurna 1 oil field should more than triple to 750,000 barrels a day in three years time, an oil official said on Sunday. The 8.6 billion barrel field, which is being developed by a consortium including ExxonMobil and Shell, currently produces 234,000 barrels per day, Madhi Swadi, the head of the […]
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 […]
U.S. oil giant ExxonMobil said on Friday it was on track to reach its initial production target in Iraq's West Qurna I oilfield next year, according to reports from Reuters. "ExxonMobil is moving forward in accordance with the contract timeline and we are on track with our plans to reach the initial production target in […]
Halliburton (NYSE: HAL) has been awarded a wellwork integrated services contract by ExxonMobil Iraq Ltd. for refurbishment of wells in the West Qurna (Phase 1) field in southern Iraq. Halliburton will provide on-site logistics and technical support for both rigless and rig-assisted workovers. Other services provided by Halliburton include provision of a workover rig, coiled […]
ExxonMobil (XOM.N) and its partner Royal Dutch Shell (RDSa.L) plan to more than double the number of new wells in Iraq's West Qurna Phase One in order to reach its projected production target, an Exxon executive said on Monday. According to Reuters, quoting ExxonMobil's Iraq Vice President, James Adams, Exxon aims to drill two to […]
Markets hate uncertainty, but history has shown us that times of uncertainty create the greatest opportunities. Warren Buffett's famous saying, “be fearful when others are greedy, and be greedy when others are fearful”, is true whether referring to the stock market or to risk-taking in general. And Iraq is giving us plenty of risk and […]
ExxonMobil (XOM.N) and its partner Royal Dutch Shell (RDSa.L) have not been affected by a delay in the formation of Iraq's new government, and work on their West Qurna Phase One project is moving ahead, an Exxon executive said on Monday. Exxon expects to tender later this year to drill new wells in the supergiant […]
The contract, estimated at several billions of dollars, is to take place in oil fields in southern Iraq.
