Tag Archives | Kuwait Energy

New Oil Bidding Round Postponed to Mid-2017

By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry's Petroleum Contracts and Licensing Directorate (PCLD) said: "Following to the previous Ministry of Oil Announcement dated […]

Egypt's EGPC gets 20% of Siba Oilfield

By John Lee. Kuwait Energy (KEC) has reportedly signed a farm-out agreement giving Egypt General Petroleum Corporation (EGPC) a 20 percent participating interest for Iraq's Siba oilfield. According to Reuters, the agreement is subject to Iraqi regulatory approval. Kuwait Energy has not published any information about the deal on its website. The two companies are […]

New Oil Development Opportunities in Iraq

By John Lee. Iraq's Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields. The fields concerned are: Sindebad (Basra governorate); Umm Qasr [Um Qaser] (Basra governorate); Rachi (Basra governorate); Abu Khema (Basra governorate); Kumait (Missan governorate); Noor (Missan governorate); Umara (Missan governorate); Dema […]

Production Commences at Faihaa-2 well in Block 9

By John Lee. Kuwait Energy has announced the commencement of production from the Faihaa-2 well in the Block 9 concession. in Basra Governorate. The Faihaa 2 well was spudded on 3 January 2016, with production testing commencing on 23 September 2016 at 52/64 inch choke size at an initial rate of 9,583 barrels of oil […]

Kuwait Energy signs Export Agreement for Block 9

By John Lee. Kuwait Energy has announced the signing of an Export Oil Sales Agreement for its Block 9 project in Iraq. The agreement, signed between a consortium led by Kuwait Energy plc and Iraq's State Oil Marketing Organization (SOMO) puts in place the mechanism by which Kuwait Energy will be paid for services in […]

Block 9 Reaches Production in Record Time

Kuwait Energy has announced that the consortium comprising of Kuwait Energy (60%) as the operator, Dragon Oil (30%) and the Egyptian General Petroleum Corporation (10%) has commenced oil production from Faihaa-1 well in Block 9, Iraq. The Faihaa-1 well is located in Block 9 field, which is situated in the hub of Iraq’s oil industry […]

Egypt Finalises Farm-in at Block 9

By John Lee. Egypt has finalised a farm-in at Iraq's Block 9 area in Basra province on Wednesday. Under the agreement, Kuwait Energy (KEC) will give up 10 percent of the concession, leaving it with a 60 percent share. According to a report from Reuters, this is the first time that the state-owned Egyptian General Petroleum […]

Egypt’s Petrojet wins $185m Gas Contract

By John Lee. Petrojet has been awarded a $185-million (216-billion-Iraqi-dinar) contract to build the first gas-processing plant for Iraq’s Siba field. The Egyptian state-owned company will handle all the gas-processing plant’s related works including engineering, procurement, and construction (EPC). The project aims to increase the field’s production to 110 million cubic feet per day within […]

Kuwait Energy, EGPC Partner on Block 9

By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra Governorate, in Southern Iraq. The signing […]

Dragon Oil Updates on Operations

By John Lee. In its 2014 Full-Year Results, Dragon Oil gave the following update on its operations in Iraqi Kurdistan: On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached at […]

Dragon Oil to Accelerate Evaluation of Faihaa-1

By John Lee. In its Trading Statement this morning, Dragon Oil issued the following update on its operations in Iraqi Kurdistan: "On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached […]