The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq exports around 3.5 million barrels of oil a day. Heightened regional tensions between the US and Iran and recent attacks on oil tankers in the Gulf have heightened security fears. The government […]
By John Lee. Production at the West Qurna 1 oilfield has reportedly reached 465,000 barrels per day (bpd), following the completion of new crude processing facilities and oil storage tanks. Officials told Reuters on Monday that the field was previously producing about 440,000 bpd. Exxon's foreign staff were present at a ceremony to launch the […]
By John Lee. Russia’s Gazprom Neft is reported to be interested in expanding its operations in Iraq. Reuters says boss Alexander Dyukov told the annual general meeting on Friday that the company, which is already developing the Badra oilfield, is also "looking at" the Mansuriyah gas field near the Iranian border. It says that Iraqi […]
By John Lee. ShaMaran Petroleum has announced the completion of its acquisition of an additional 7.5% participating interest in the Atrush Block [from Marathon Oil], previously announced on April 3, 2019, bringing ShaMaran’s total interest in Atrush up to 27.6%. ShaMaran also announces that Atrush has been producing at approximately 32,000 barrels of oil per […]
By John Lee. Oil production in the Al Faihaa area (Block 9) in Basra is reportedly expected to increase in the coming year with increasing investment. Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East that the company plans to increase production in Iraq to 100,000 barrels per day (bpd) by 2025. […]
By John Lee. Hyundai Engineering & Construction has reportedly won a $2.45-billion deal to build a seawater processing facility in Iraq. South Korean media report that the company signed a letter of intent with Basra Oil Company (BOC) on Wednesday for the 49-month project, which will be capable of supplying 5 million barrels of fresh […]
By John Lee. Oil production is to increase at the West Qurna 1 oilfield, according to Reuters. The news agency quoted Basra Oil Company (BOC) chief Ihsan Abdul Jabbar as saying on Wednesday that output will rise from 440,000 barrels of crude oil per day (bpd) to 490,000 bpd in the “next few days”. The […]
The Rumaila oilfield produced 1.467 million barrels per day (bpd) in 2018 – the oilfield’s highest annual rate of production for 30 years. 2018 also saw the milestone of four billion barrels of oil produced since the Rumaila Operating Organisation [ROO] began operating in June 2010. The results were reported in the 2018 Rumaila Annual […]
Iraq, one of the world's biggest energy producers, can address its current electricity shortfall and growing power needs through immediate action to relieve pressure on the system, according to an in-depth report published Thursday by the International Energy Agency. It also provides a medium-term strategy that makes the best use of the country’s abundant oil […]
By John Lee. Japex is reportedly planning to increase production at the Gharaf oil field from around 90,000 barrels of oil per day (bpd) currently to 230,000 bpd by the end of 2020. S&P Global Platts quotes Japex director Michiro Yamashita as saying that the company has allocated capital expenditure of $460 million for the […]
DNO, as operator of the Tawke field in Iraqi Kurdistan, has today issued an update on licence activity. Gross production from the Tawke licence, containing the Tawke and Peshkabir fields, averaged 126,759 bopd during the first quarter of 2019. Tawke production currently averages c.73,000 bopd, and Peshkabir c.54,000 bopd. There is an active 2019 drilling […]
Cumulative production at the West Qurna-2 field has reached 100 million tons of oil as part of successful implementation of Phase 1 of the project. With 184 wells drilled at the field, the average daily production rate is 400,000 barrels. Operator Lukoil said in a statement that, to manage the field's production, it uses "the […]
