Canadian-based SNC-Lavalin (TSX:SNC) has announce that it has been awarded a framework agreement for project support services with LUKOIL Mid-East for the West Qurna phase 2 oil field in Iraq. Christian Brown (pictured), President, Oil & Gas, SNC-Lavalin, said: “We continue to build on our long-term relationship with LUKOIL and to help them realize their […]
By John Lee. Russian oil company Lukoil has published tenders for two projects at its West Qurna-2 oilfield: Decentralised Water Injection Facilities - click here for more information; Gas Turbine Power Plant Expansion - click here for more information. Interested companies have until 23rd July to apply for documents, and bids will be accepted until […]
By John Lee. Russian airline Red Wings reportedly made its maiden flight to Iraq on Wednesday. This marks the resumption of services between Moscow and Baghdad following the Iraqi War in 2003. The new service will begin with one regular flight per week. (Source: AFP)
As part of the XXII St. Petersburg International Economic Forum, Rosneft and the Kurdistan Regional Government of Iraq signed an agreement securing the intention of the Parties to make a detailed analysis of potential gas cooperation options. The Parties ensure stepwise implementation of the arrangements following the Investment Agreement signed at the XXI St. Petersburg […]
By John Lee. Bashneft, a subsidiary of Russia's Rosneft, has found oil at its Salman-1 exploratory well at Block 12 in Iraq. In a statement, the company said that an exploration well was successfully drilled to depth 4,277 metres; oil was found, "which gives grounds for expecting the discovery of industrial reserves". Rosneft said it […]
LUKOIL and the Basra Oil Company (BOC) signed a Development Plan for the West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected […]
By Ruslan Mamedov for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Moscow’s interest in the Middle East and the growing Russian presence in the region go beyond Russian involvement in the Syrian civil war. For several years Russia has been building partnerships […]
Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a second well — the Sarqala-2 — at its Sarqala field (within the Garmian block), located in the Kurdistan Region of Iraq (KRI). The new well is currently producing 11,000 barrels per day (bpd), with potential to increase this to 15,000. Total daily production at […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has met with Deder Kasemero, the vice president and the regional manager of Rosneft, to discuss the expansion of cooperation in the Iraqi oil and gas sector. The Minister said he is open for international companies such as Rosneft to participate in investment projects to […]
By John Lee. Russian oil company Lukoil has said that lower volumes of compensation crude oil from the West Qurna-2 project in Iraq had "a negative impact on EBITDA dynamics". In its audited consolidated financial statements for the full year of 2017, it added that net of this project, EBITDA increased in 2017 by 17.8 […]
By Elena Kornienko. Little did I know back in 1999 when I got my first job in procurement on the Sakhalin-2 project which became one of the mega projects in oil and gas industry not only in Russia but also worldwide. I was young, ambitious and also very naive about what years later became my […]
By John Lee. Russia will continue to supply Iraq with T-90S main battle tanks (MBTs), according to a report from Army Recognition. Vladimir Kozhin, Russian presidential aide for military and technical cooperation, told Rossiya 24 TV: "Iraq is our traditional partner and it has been boosting its potential by ordering our equipment. Today we are […]
