By John Lee. In a Trading Statement on Tuesday, Dragon Oil gave the following update on its operations in Iraq: In Iraq, the consortium of Dragon Oil (30%) and Kuwait Energy Corporation (70% and operator) is drilling an exploration well. The well is targeting two prospective reservoirs, which, in case of a discovery, are expected […]
By John Cookson. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Traders will tell you the price of oil is a speculative market based on expectations. Most of Iraq's oil production is from the mega fields in the south, far from any fighting. But […]
By John Lee. Dubai's Dragon Oil reports that it has spudded an exploration well using a drilling rig from the Iraqi Drilling Company. The well is targeting two prospective reservoirs, and testing is expected to take place in 2H 2014. The consortium consists of Dragon Oil (30 percent) and Kuwait Energy Corporation (70 percent and […]
Speech given by Baroness Nicholson of Winterbourne, UK Trade Envoy for Iraq and Chairman of the Iraq Britain Business Council, to the ‘Investment Forum in Iraq and Kurdistan Region’, Rotana Hotel, Erbil: ‘I am indeed grateful for the privilege of addressing this eminent audience,and I thank most warmly the President of The Kurdistan Federation of […]
As part of its trading statement and operational update this morning, Dragon Oil made the following statement on its operations in Iraq: The consortium (Kuwait Energy 70% and operator and Dragon Oil 30%) has secured a drilling rig from the Iraqi Drilling Company (IDC) to spud an exploration well in 1Q 2014. The work commitment […]
By John Lee. Kuwait Energy and Dragon Oil have secured a rig from the Iraqi Drilling Company (IDC) to spud an exploratory well at Block 9 in Basra Province by the end of the year. In parallel, the consortium has selected a provider for Environmental Impact Assessment, Environment Base Line Survey and contractors to perform de-mining […]
By John Lee. In an interview with Reuters, the chief executive of Kuwait Energy says the company is committed to pumping gas and finding oil in southern Iraq, and will not risk aggravating Baghdad by pursuing deals in Iraqi Kurdistan. Sara Akbar (pictured) said strong ties with Baghdad are core to its strategic investment in southern […]
By John Lee. Iraq has approved the deal under which Kuwait Energy would replace Turkey's state-owned Turkiye Petrolleri AO (TPAO) on the Block-9 exploration contract. Abdul-Mahdy al-Ameedi, director of the ministry's contracts directorate, told Reuters: "Kuwait Energy has acquired the stake of the Turkish company TPAO, and now it's holding 70 percent of the contract, […]
By John Lee. The Iraqi cabinet has expelled Turkey's state-owned Turkiye Petrolleri AO (TPAO) from the consortium that was granted the rights to explore energy block 9, and has asked Kuwait Energy to take over the shareholding. Abdul Mahdi Al Ameedi, director of the oil ministry’s Petroleum Contracts and Licensing Directorate (PCLD), said: "For reasons […]
By John Lee. Iraq's cabinet has approved three oil and gas contracts awarded to foreign firms in the 4th round energy auction in May. Government spokesman Ali al-Dabbagh (pictured) said cabinet approved an initial gas exploration contract with Pakistan Petroleum for gas Block 8, another deal led by Russia's Lukoil along with Inpex of Japan […]
By John Lee. Iraq’s Oil Ministry has signed a contract with Kuwait Energy to carry out a seismic survey at the Siba gas field in Basra province. Kuwait Energy and Turkey's TPAO won the Siba contract in October 2010, agreeing to produce 100 million standard cubic feet of gas a day at a price of […]
By John Lee. In its interim results for the period ended 30th June 2012, Dragon Oil today issued the following update on its business in Iraq: A consortium of companies, comprising Dragon Oil (30%), the Turkish Petroleum Corporation (TPAO) (30%) and Kuwait Energy (40% and operator), has been awarded an exploration, development and production service […]
