The latest Petronas Business News – Majnoon Iraq Oilfield, contract, Shell Oil, Malaysia, crude oil and more – brought to you by Iraq Business
By John Lee. The Iraqi Drilling Company (IDC) has begun drilling the FQCS-88 oil well at the Fakka oil field in eastern Maysan [Missan] province. The 2,000-horsepower IDC 55 rig is operating as part of a project to drill 22 oil wells for the China National Offshore Oil Corporation (CNOOC). It will drill to a […]
By John Lee. The Iraqi Drilling Company (IDC) has recently completed the drilling of oil well 48 at the Nasiriyah oil field. The company's general manager, Engineer Basem Abdel Karim Nasser, said this was part of the contract with Dhi Qar Oil Company (DQOC) to drill 20 oil wells at the field in cooperation with […]
By John Lee. Petronas Carigali Iraq Holding B.V. has opened its K-123 well in the Garraf Contract Area in Dhi Qar. Present at the event were, Petronas Vice President International Assets of Upstream Mr. M Jukris A Wahab; Director, Managing Executive Officer and President of Middle East, Asia & Europe Project Division of Japex, Mr. […]
UK-based pump company Amarinth has delivered four API 610 VS4 vertical pumps with Plan 53B seal support systems for the Oil Train 5 Project at Garraf oilfield. Located at the northwest of Al-Refaei, approximately 85 kilometers north of the City of Nasiriya, half way between the Tigris and Euphrates rivers in the southeast of Iraq, […]
By John Lee. Malaysia's Petronas has said it has shut down production and safely evacuated all of its Malaysian employees from Iraq due to coronavirus (COVID-19). In a statement, the company said: "In view of the COVID-19 pandemic and as a precautionary measure to ensure the health, safety and well-being of our employees, PETRONAS has […]
By John Lee. Oil production is reported to have stopped at the 70,000-bpd Al Ahdab field on Sunday, as security guards seeking permanent employment blocked access to the site. According to Bloomberg, the 50,000-bpd Badra field is also at risk of closure from Monday. Al Ahdab is developed by China’s CNPC, while Badra is run […]
By John Lee. Baker Hughes has signed a contract to harness 200 MMcf/d of natural gas from Iraq's Nassiriya and Gharraf oil fields. The Nassiriya field is operated by the state-run Dhi Qar Oil Company (DQOC) and currently producing around 70,000 barrels per day of crude oil, with a target of 150,000 bpd. Gharraf is operated […]
By John Lee. According to a report from Platts, the Iraqi oil ministry is about to award two management contracts to replace Shell at the Majnoon oil field. Sources say the state-run Basra Oil Company (BOC) has opted to operate the field instead of replacing Shell, and junior partner Petronas, which announced last year it […]
By John Lee. Russia’s Gazprom Neft has reportedly revised down its output plateau for the Badra oil field. Denis Sugaipov, head of Gazprom Neft’s department of large projects, told Reuters that the consortium running the project has proposed setting the output plateau for the next few years at its current level of around 85,000 bpd, […]
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 […]
Rebuilding Iraq is central to the agenda of the Iraq Britain Business Council (IBBC) autumn conference at The Address, Dubai Marina on 12th November. The opportunity for businesses in the region to engage in Iraq is reflected by the attendance of a number of high profile Iraqi Ministers: from Electricity, Transport, Oil, Construction and Housing, […]
By John Lee. Janus Global Operations (JGO) has announced that it has been selected by "an integrated oil and gas multinational corporation based in Malaysia", to provide security and risk management services for the company’s operations in central Iraq. Some 600 JGO U.S. and foreign national employees will be responsible, during the two-year contract, for […]
