By John Lee. Malaysia's Petronas has reportedly confirmed that it will exit from Iraq's Majnoon oil field along with joint stakeholder Shell. A spokeswoman for Petronas told The National: "Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with Shell on the handover of the field to the […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A soil barrier built to protect Basra’s farms and oil fields from polluted water flushed out of Iran is leaking. It’s the latest in a long list of water woes […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Developing Majnoon Oilfield by National Effort -- Important Move in the Right Direction On 21st December, the Ministry of Oil (MoO) approved a set of measures relating to the development of the […]
By John Lee. Reuters reports that Iraq's oil ministry has said it had started to take over operations at Majnoon oilfield from Shell. Earlier this year, Shell said it will exit the field, which is expected to happen by the end of June. The ministry has formed a management team to handle production after the […]
By John Lee. Reuters has reported that both BP and Eni have expressed an interest in developing the giant Majnoon oilfield, which Shell plans to exit next year. Iraqi oil officials told the news agency that Iraq's Ministry of Oil has not yet started negotiations with either company. BP is currently developing the Rumaila field, […]
By John Lee. Malaysia's Petronas has reportedly decided to withdraw from its 30-percent participating interest in Iraq’s giant Majnoon oil field. According to Bloomberg, the decision came as the company considers the returns to be too low. It is expected to hire advisers to help find an interested party to take up the holding. Shell is […]
By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has reportedly said that Chevron and Total have expressed interest in developing the Majnoon oilfield. Oil giant Shell is trying to sell its stake in the field following a failure to reach agreement with Iraq’s Ministry of Oil. Reuters quotes the Minister as […]
By John Lee. Oil giant Shell is trying to sell its stake in the Majnoon oilfield (pictured) in southern Iraq, following a failure to reach agreement with Iraq's Ministry of Oil. A Shell spokesman told UAE-based newspaper The National: “Following extensive discussions with the Ministry of Oil, the oil minister of Iraq formally endorsed a […]
By John Lee. The head of an Irish engineering firm has said his company is aiming to increase its work at Iraq's West Qurna oilfield. In an interview with John Reynolds for the Irish Independent, Michael Looby (pictured), Founder and Managing Director of ByrneLooby, added: "Southern Iraq is stable and well-developed. Our clients are very […]
By John Lee. According to a report from Bloomberg, the International Energy Agency (IEA) has predicted that Iraq will retain its position as OPEC’s second-biggest oil producer, adding 700,000 barrels per day (bpd) to reach 5.4 million bpd by 2022. Most of the increase will come from southern oilfields, such as the Shell's Majnoon project. […]
By Sara al-Qaher for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. On Feb. 20, the Iraqi Oil Ministry signed a memorandum of understanding with the Iranian Oil Ministry to settle disputes over the joint oil fields and examine the possibility of building […]
By John Lee. According to a report from Reuters, Anglo-Dutch Shell has signed a $210-million contract with US-based Halliburton to drill 30 wells at the Majnoon field over the next three years. The contract is expected to raise output at the field from 220,000 barrels per day currently to about 400,000 bpd in three years. (Source: Reuters)
