By John Lee. In its half-yearly report issued on Thursday, Irish engineering services group Kentz announced that it was recently awarded a new engineering design contract in Iraq. The company will serve as the main FEED (front-end engineering and design) contractor on the Tuba Project, comprising part of the overall development of the West Qurna […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi Ministry of Oil confirmed in late July that Russia’s Bashneft had accepted the ministry’s maximum acceptable remuneration fee (MARF) for exploration Block 12, which was offered in the fourth bid […]
By John Lee. The China National Petroleum Corporation (CNPC) is reported to be in talks with Russia's OAO Lukoil about joining the company’s West Qurna-2 project in Iraq. Lukoil is seeking a partner for a 30 percent stake in the project following the exit of Norway's Statoil’s, Nefte Compass said, citing Andrei Kuzyaev (pictured), head […]
By John Lee. Iraq signed the gas exploration contract with Pakistan Petroleum Ltd. (PPL) on Sunday for gas Block 8, which lies in the Diyala and Wassit provinces in the East of the country. Meanwhile on Monday, a consortium led by Kuwait Energy signed the contract for oil Block 9, having bid fee of $6.24 […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
LUKoil has reportedly offered Rosneft its African and Iraqi projects in a swap for Arctic shelf cooperation. LUKoil CEO, Vagit Alekperov, said on Thursday: “We have offered them our geological prospecting assets abroad. So far, talks are underway. We have offered them a whole package. If they are interested, we’ll offer them West Africa and […]
Lukoil Mid-East Limited, a designated operator for the West Qurna (Phase 2) contract Area in the Republic of Iraq is developing the West Qurna 2 oil field under the development and production service contract signed with the South Oil Company of the Iraqi Ministry of Oil. Legal entities , domestic and foreign companies having experience of […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iraq’s government signed deals for only three of the 12 oil and gas exploration blocks offered in its fourth energy auction, which ended on Thursday, reflecting reluctance of foreign bidders to risk money in unexplored areas. Russia's LUKoil, along with partner Inpex Corp of Japan, won the deal for the 5,500-square-kilometer Block 10 in Muthanna […]
Russia’s Lukoil is seeking partnerships with Asian oil firms to develop the West Qurna-2 project. The company's Vice-President, Leonid Fedun (pictured), told investors at a company presentation in Hong Kong: “We are holding talks with several potential bidders, including Asian firms. I believe we may get positive news by the end of this year.” Lukoil […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Lukoil, Russia's second-largest crude oil producer, has confirmed that it will be able to develop Iraq's West Qurna-2 oilfield without partners. "Today we are able to implement this project by ourselves," president Vagit Alekperov told reporters in the Spanish city of Barcelona on Friday. Reuters reports that production from the field will reach 150,000 barrels […]
