Tag Archives | Rumaila

The latest Rumaila business news – BP, CNPC, the Rumaila Oil Contract and more – brought to you by Iraq Business News

BP Takes More Oil as Payment

By John Lee. The President of BP Iraq has said that the company has been lifting more crude oil cargoes in the past couple of months, as payment for its work in the Rumaila oil field (pictured). Michael Townshend told reporters that current production at Rumaila is about 1.4 million bpd and is expected to remain […]

Weekly Security Update: 03 - 09 March 2015

National Overview Allied forces are now understood to be in preparations for a direct assault on Tikrit city, following a large scale retreat of ISIS fighters from towns and villages protecting main routes. In total some 20,000 troops, alongside PMU militias and Sunni tribesmen have advanced on the town, closing off routes to the south […]

A Basra Lunch, with Locally Sourced Truffles?

By John Lee. As long term observers of events in Iraq, the team at Iraq Business News thought we might have seen just about every unexpected story from a nation that continues to surprise. We'd heard of the popularity of the Japanese comic character Hello Kitty in Iraq or the trend among some young Iraqis for playing […]

BP Plans to Double Rumaila Production

By John Lee. The coming year will see BP expand drilling work and upgrades to equipment at the vast Rumaila oil field in southern Iraq, of which the company have a 50% stake. BP operate the field with PetroChina, Iraq's South Oil Company and SOMO. This work is carried out under the umbrella of the […]

Sulzer, Unaoil in JV Agreement

By John Lee. Swiss-based Sulzer has signed an agreement to form a joint venture with the Unaoil Group to service of rotating equipment for oil and gas, and power customers in Southern Iraq. The joint venture (JV) will operate under the name of Sulzer Rotating Equipment FZCO and will have offices in Dubai, with local operations […]

IOCs seek Independent Water Facilities

By John Lee. International oil companies (IOCs) in southern Iraq are seeking to push ahead with their own water injection facilities to meet production targets, according to a report from Platts. Malaysia's Petronas, operator of the Gharraf [Garraf] oil field, is the latest to ask the Ministry of Oil for permission to build a standalone […]

Petrofac Wins $500m Rumaila Contract

By John Lee. Petrofac has also been awarded a major contract in Iraq to provide general construction management services to BP Iraq NV (BP) on the Rumaila field near Basra. Petrofac will provide management and personnel to manage brownfield modifications to assist BP – and its partners in the Rumaila Operations Organisation (ROO), China National […]

New Oil Minister Praises Kuwait

By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] has met with a Kuwaiti delegation led by the country's Ambassador to Baghdad, Ghassan al-Zawawi, to discuss cooperation in the energy sector. The Minister praised Kuwait for its economic and political support for Iraq, and praised Kuwaiti companies for their contribution to the development […]

Revised Production Target for Rumaila

By John Lee. BP has reportedly finalised its revised contract for Iraq's giant Rumaila oilfield, cutting the final production target from 2.85 million barrels per day (bpd) to 2.1 million bpd. According to Reuters, officials from BP and Iraq's oil ministry signed the amendment to the existing contract in a closed-door meeting at Rumaila on […]

UK Firm Supplies Security Gates

By John Lee. Frontier Pitts, a British manufacturer of security gates and barriers, has recently completed the supply and installation of anti-terrorist security equipment at the Rumaila oilfield in Southern Iraq. The project consisted of 25 Terra Manual Barriers and 18 Terra Sliding Cantilevered Gates, which have been successfully impact tested in accordance with the […]

Drones to Protect Iraqi Oil Infrastructure

By Patrick M Schmidt. During a tour of Rumaila oil field, the Iraqi Minister of Oil, Abdul Kareem al-Luaibi [Elaibi] , announced that two unmanned drones would begin flying over the vital oil infrastructure in the south of Iraq. His announcement marks the first time that drones have been used to protect energy interests. The […]

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CPECC, Petrofac Win Rumaila Contracts

By John Lee. Iraq has announced the award of two contracts totalling nearly a billion dollars to Britain's Petrofac and China's CPECC, Reuters reports. The deals, for services at the super-giant Rumaila field near Basra, were worth $535.8 million for Petrofac and $425 million for China Petroleum Engineering & Construction Corporation. Rumaila is a field of key strategic […]