Tag Archives | Iraq National Oil Company (INOC)

KRG Denies seizing control of Oil Fields

By John Lee. The Kurdistan Regional Government (KRG) has denied seizing the Bai Hassan and Dawd Gurg oil fields in Kirkuk from the Iraqi federal government's Ministry of Oil. On Saturday, the North Oil Company (NOC), which is owned by the Iraqi National Oil Company (INOC), claimed that the KRG took over the fields in […]

Work Starts at $594m Oil Processing Plant at Block 9

By John Lee. The President of ┬áthe Iraqi National Oil Company (INOC) has laid the foundation stone for the $594-million crude oil processing plant at Block 9, within the Al-Fayha Oil Field in Basra Province. Ihsan Abdul-Jabbar Ismail said that the development is important for the production of light oil, with a target for this […]

French Oil Consultancy Wins Iraq Contract

By John Lee. French-based petroleum consultancy Beicip Franlab has signed a deal to provide consultancy services to the Iraqi Oil Ministry's Reservoirs & Fields Development Directorate. The Minister of Oil and President of Iraqi National Oil Company (INOC), Ihsan Abdul-Jabbar Ismail, said that Franlab will give advice that can be used to develop the oil […]

CNOOC to Explore Offshore in Iraq

By John Lee. The China National Offshore Oil Corporation (CNOOC) is to press ahead with oil exploration at a 530-km2 offshore block in Basra. Originally agreed in 2019, the work had been delayed due to the COVID-19 pandemic. In parallel, Iraq's state-owned Oil Exploration Company (OEC) will carry out seismic surveys on the adjoining 120-km2 […]

China "the Only Winner" in this Huge Iraqi Oil Field

Writing in Oil Price, Simon Watkins that the recent approval of the Iraqi National Oil Company (INOC)'s acquisition of ExxonMobil's 32.7 percent stake in the West Qurna 1 oil field is likely to leave China delighted, the U.S. irritated, and Iraq's oil industry still unable to achieve any of its key oil output goals. Click […]

Iraq to buy Exxon stake in West Qurna 1

By John Lee. The Iraqi cabinet has agreed to allow the Basra Oil Company (BOC) to take over ExxonMobil's holding in the West Qurna 1 oilfield, at a price of up to $350 million. Addressing media after Wednesday's cabinet meeting, Minister of Communications Arkan Al-Shaibani (pictured) said the cabinet also allocated an initial payment of […]

INOC to Negotiate with Chevron to Develop Dhi Qar Oil Fields

By John Lee. The Iraqi Cabinet has authorised the Iraqi National Oil Company (INOC) to negotiate directly with US oil company Chevron to develop four oil fields in Dhi Qar Governorate. According to a statement from the Ministry of Oil, the fields constitute the Nasiriyah block, which has a target output of 600,000 barrels of […]

INOC to be Partner in TotalEnergies Basra Projects

By John Lee. The Iraqi cabinet has approved a plan for the newly-formed Iraqi National Oil Company (INOC) to be a financial partner with TotalEnergies in its projects in Basra. It said it will support INOC to "maximize revenues and financial returns to the general budget." In September, TotalEnergies signed a number of major agreements […]

Sonangol meets with INOC to discuss Production at Qayara

By John Lee. The President of the Iraqi National Oil Company (INOC), Oil Minister Ihsan Abdul-Jabbar Ismail, has chaired a meeting with the CEO and management of Angola's Sonangol, the main operator of the Qayara [Qayyarah] oil field in Nineveh Governorate. Also joining the meeting was the management of the North Oil Company (NOC) and […]

Iraqi National Oil Company (INOC) holds First Meeting

By John Lee. The recently-created Iraqi National Oil Company (INOC) has held its first meeting in Baghdad. Among the items discussed were the five-year plan for the oil exploration sector, and what were described as "interim and future production and export plans", in coordination with the State Oil Marketing Organization (SOMO). (Source: Ministry of Oil)