By John Lee. Wood Group Intetech (WG Intetech) has successfully completed a six-month project for Hungary's MOL Group, which saw WG Intetech develop a detailed design for an acid gas reinjection well on MOL’s Akri-Bijeel field in Iraq. The scope of the agreement included well design and comprehensive materials selection for all well components. Dr […]
By John Lee. Sharjah-based Dana Gas and its consortium partners, Crescent Petroleum and Pearl Petroleum, is pursuing $100 million (117 billion Iraqi dinars) in payments from the Kurdistan Regional Government (KRG). In a statement to the Abu Dhabi Securities Exchange (ADX), the company said: "The LCIA [London Court of International Arbitration] Tribunal recently ordered the […]
From ProactiveInvestors. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Alexander Dodds, executive vice president of exploration and production at Hungary-based MOL Group, talks about finding the balance between high risk exploration and declining oil production. Dodds says Kurdistan is the most important region […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) gained another 19 percent on Thursday morning, following approval of its Field Development Plan (FDP) for Akri-Bijeel, in which it holds a 20 percent working interest. The FDP is based on these two discovery areas, i.e. Bijell area and the Bakrman area. The development will be done […]
The State Secretary at the Ministry of Foreign Affairs of Hungary, Mr. Zsolt Nemeth, has received the Head of the KRG Department of Foreign Relations, Minister Falah Mustafa to discuss a number of issues including ways to further enhance mutual relations. The meeting was also attended by the Hungarian Ambassador to Iraq, Mr Tibor Szatmari. […]
By John Lee. MOL Plc has informed the market that Kalegran Ltd. (a 100% subsidiary of MOL), as has officially declared the Akri Bijeel Block to be 'commercial', based on the discoveries made at the Bijell-1 well (pictured) in Jurassic horizons and Bakrman-1 well in Triassic horizon. Kalegran is the Operator of the Block on […]
Gulf Keystone notes today's update by MOL Hungarian Oil and Gas Plc., the operator of the Akri-Bijeel Block in the Kurdistan Region of Iraq (in which Gulf Keystone has a 20 per cent working interest), on its extensive exploration and appraisal programme. Bakrman-1 Exploration Well Discovery Bakrman-1, the first exploration well to target the Bakrman […]
By John Lee. Gulf Keystone notes today's announcement by MOL Hungarian Oil and Gas Plc., the operator regarding the spudding of the Gulak-1 exploration well on the Akri-Bijeel block in the Kurdistan Region of Iraq. Gulak-1 is the fourth exploration well to be drilled on the Akri-Bijeel block and the first exploration well to target […]
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 […]
Gulf Keystone has announced that it has appointed Strand Hanson Limited and Perella Weinberg Partners UK LLP as Joint Corporate Advisers with immediate effect. Working alongside Strand Hanson, Perella Weinberg Partners will be jointly responsible for coordination of and advice on the sale of the Company's 20 per cent working interest in the Akri-Bijeel block […]
The Nabucco gas pipeline project is facing collapse, reports AFP. The scheme to ship more than 30 billion cubic meters of gas per year from the Caspian and beyond to Europe, bolstering Europe's energy security, may founder following Turkey's decision to allow Russia's rival South Stream project to run through its Black Sea waters. Construction […]
Gulf Keystone CEO Todd Kozel (pictured) has told Reuters that the Kurdistan-focused oil explorer has interest for its 20 percent stake in the Arki-Bijeel block in the semi-autonomous region, but any sale was still in the preliminary stages: "We've got a lot of interested parties, but we have not identified a purchaser. "We haven't gone […]
