Tag Archives | Iraq Oil Production News

The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News

Deal Signed for 96 new Wells at West Qurna 1

By John Lee. Iraq has signed a contract with Schlumberger to drill 96 horizontal and diagonal oil wells at the West Qurna 1 field in Basra. Saad Al-Damen, Vice President of Schlumberger, said the contract will add 200,000 barrels per day to production at the field. The Undersecretary at the Ministry of Oil, Hamid Younis, […]

Atrush Exceeds 50m Barrels Production

By John Lee. ShaMaran Petroleum has announce that the Atrush block in Iraqi Kurdistan has surpassed the cumulative oil production milestone of 50 million barrels since its first oil in July 2017. Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: "This significant operational achievement is noteworthy as the production milestone has been […]

Kurdistan 2020 Oil Business "Crashed due to COVID-19"

The Kurdistan Regional Government (KRG) has released its annual oil and gas audit report for 2020, which revealed several drops in production due to the COVID-19 pandemic. The region's total exported and consumed oil for the year stood at 165,942,861 barrels, about 5 million barrels less comparing to 2019. The average price of oil dropped […]

GKP Shares Rise on Corporate Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) ended the day up more than 6 percent on Friday, as the Kurdistan-focused oil producer gave an operational and corporate update: Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to safely navigate a challenging operating environment due to COVID-19, with gross average year-to-date […]

LUKoil announces Plans for Iraq's Block 10

By John Lee. The head of Russia's LUKoil has said that the company plans to start production at Iraq's Block 10 at the end of 2022 or in 2023. Vagit Alekperov (pictured) told a Reuters that output will start at 30,000 barrels per day (bpd). The field is being developed by LUKoil (60%) and Inpex […]

Increasing Oil Production at West Qurna 2

By John Lee. Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, has announced the start of experimental operations at the Yamamah reservoir in the West Qurna 2 oil field, with the aim of increasing output from the reservoir from 10,000 barrels per day (bpd) to 350,000 bpd. When fully implemented, the development would bring total production at […]

Rumaila Oilfield "delivers Strong 2020 Performance"

The Rumaila Operating Organisation (ROO) has announced its 2020 performance results. The field's oil production rate averaged 1.392 million barrels per day (bpd), despite the impact of COVID-19, a budget reduction and compliance with instructions from BOC to reduce oil production, which reflected OPEC+'s request for Iraq to curtail oil exports. The year's strong performance […]

GKP Resumes Kurdistan Investment Programme

Gulf Keystone Petroleum (GKP) has announce the resumption of the Company's growth plans to ramp-up gross production towards 55,000 barrels of oil per day ("bopd"). Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "After a year of successfully managing the impact of COVID-19 on our people and production operations at Shaikan, we are pleased […]

Genel announces First Oil at Sarta

Genel Energy has announced first oil production from the Sarta field (Genel 30% working interest), less than 21 months after the acquisition of the stake was completed. Production has begun at Sarta with first oil flowing from the Sarta-3 well into the Early Production Facility. The Sarta-2 workover operation is on track to be completed […]

GKP Shares Rise as Workover Completed

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up 5 percent on Monday morning as the company announced that the planned workover on the SH-12 well has been completed safely. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to successfully manage the challenging macro backdrop and make operational progress. […]