Dubai-based Drake & Scull International PJSC (DSI) has announced that it has been awarded a AED 226 million ($61 million) engineering, procurement and construction (EPC) contract for the construction of a water injection network installation project at the Zubair oil field in Basra, Iraq by ENI Iraq B.V. (EIBV) a subsidiary of the Italian oil […]
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Tags: DJ, Drake & Scull, dubai, ENI, featured, Italy, KOGAS Iraq News, Occidental, United Arab Emirates (UAE), water injection, Zubair
KOGAS to Invest $4.9bn in Zubair
By John Lee. The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield. In a stock exchange filing, the company said this investment is part of the total $19.4 billion capital expenditure required for the project, and added that it […]
Penspen Expands in Iraq
Penspen, a leading global provider of engineering and management services to the energy industry, has underlined its commitment to growth in the Middle East with three new appointments and investment in a new office in Iraq. Ahmed Al-Dadah and Na’el Barghouthi have this month joined the company from other engineering providers, whilst Michael Simm, EVP […]
Tags: Al Shaheen, AMEC, AMEC Foster Wheeler, Basra News, featured, Foster Wheeler, GE, Occidental, Penspen, Wood Group
PM al-Abadi Meets Oil Bosses
During his visit to Washington this week, Prime Minister Haider al-Abadi received the Chairman and CEO of Occidental Petroleum, Mr. Steve Chazen, and the Chairman and CEO of ExxonMobil, Mr. Rex Tillerson, in separate meetings. Both chairmen discussed the progress in oil production in Iraq, and thanked the Prime Minister for the security and stability […]
KOGAS in $4.9 Billion Project
By Patrick Schmidt. On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project. The investment will help establish the facilities needed to launch the project and help Zubair reach its potential of over 800,000 barrel per day production. KOGAS have a 23% stake in the Zubair […]
Daewoo Wins $589m Gas Separation Contract
By John Lee. Iraq’s cabinet has approved an $589 million oilfield service contract with South Korea’s Daewoo Engineering & Construction. The contract, approved on Tuesday, is for the engineering, procurement and construction of a gas separation facility at the Zubair oilfield. Production at the field is planned to increase from the current 320,000 barrels per […]
Tags: Daewoo, ENI, KOGAS Iraq News, korea, Korea Gas Corporation, Missan Oil Company, Occidental, Zubair
Occidental Offers Stake in Mideast Unit
Occidental Petroleum has reportedly begun trying to sell a minority stake in its Middle East unit for as much as $8 billion. According to a report from Bloomberg, Chief Executive Officer Stephen Chazen (pictured) has held talks with sovereign wealth funds and possible strategic partners for a 40 percent stake in the Mideast business, whose […]
Tags: Occidental
Eni’s Scaroni Meeting with al-Maliki
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met on Monday in Baghdad to discuss Eni’s activities in the country. During the meeting, Mr Scaroni along with Claudio Descalzi, COO of Eni E&P, updated the Prime Minister on the development activities at the Zubair oil field and discussed the […]
Tags: ENI, Italy, KOGAS Iraq News, Korea Gas Corporation, Maliki, Maysan, Maysan Oil Company, Missan, Missan Oil Company, Nouri al-Maliki, Occidental, Zubair
Eni Consortium to Invest $18bn in Zubair
The CEO of Italian oil and gas company Eni, Paolo Scaroni (pictured), said he expects the consortium led by Eni to invest $18 billion in the Zubair oilfield. He added that the group, which includes Occidental Petroleum Corp and South Korea’s KOGAS, has already invested 4-5 billion euros in the project. Production at the field is […]
Iraq Approves $359m Zubair Oilfield Contract
By John Lee. Iraqi government spokesman Ali Al Dabbagh (pictured) has said that the cabinet has approved a $358.8 million contract with Italy’s SICIM and Dubai-based Drake and Scull to lay pipelines in the southern Zubair oilfield. The two-year extendable deal is part of a series of contracts aimed at developing Zubair which should have […]
Tags: Drake & Scull, ENI, Italy, KOGAS Iraq News, Missan Oil Company, Occidental, pipelines, SICIM, Zubair
Iraq OKs Weatherford $843m Zubair Power Contract
On Tuesday, Iraq’s Cabinet approved an $843 million service contract granted to Weatherford International to install six power stations at the Zubair oil field. Government spokesman and Minister of State Ali Al-Dabbagh told Bloomberg the plants will take 18 months to install. Italian company Eni controls almost 33 percent of the Zubair project, with Iraq’s […]
Tags: Electricity In Iraq, ENI, KOGAS Iraq News, Korean Gas Corporation, Missan Oil Company, Occidental, Weatherford, Zubair
KOGAS, Occidental, get Oil from Zubair
Korea Gas Corp (Kogas) said on Tuesday that it will receive 500,000 barrels of crude oil on 15th December as “remuneration fees” and as a return on investment for helping develop Iraq’s Zubair oil field. Kogas plans to sell the crude in the international market, according to a report from MarketWatch. Its project partner, Occidental […]