By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] met with the CEO of Gazprom, Alexander Dukov, and his entourage and discussed with him mutual cooperation and the development of the oil industry in Iraq. The minister said it is necessary to increase oil and gas production at Badra oil field, and praised the […]
By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry's Petroleum Contracts and Licensing Directorate (PCLD) said: "Following to the previous Ministry of Oil Announcement dated […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil should withdraw its plan to offer 12 new oilfields. In a rather surprise move, the Ministry of Oil (MoO) announced its “intention” to offer 12 medium and small […]
By John Lee. Iraq's Ministry of Oil has requested proposals from international oil companies interestsed in developing a number of small- and medium-sized oil fields. The fields concerned are: Sindebad (Basra governorate); Umm Qasr [Um Qaser] (Basra governorate); Rachi (Basra governorate); Abu Khema (Basra governorate); Kumait (Missan governorate); Noor (Missan governorate); Umara (Missan governorate); Dema […]
By John Lee. Oil Minister Jabar Ali al-Luaibi (Allibi) met the President of Russia's Lukoil, Vagit Alkpirov [Alekperov], at the his office on Sunday. The Minister confirmed plans to develop the production and investment gas this year and next year, at called for Lukoil to participate in new projects to be started next year. Mr […]
By John Lee. Major oil companies including BP, Shell and Lukoil are reported to be cutting investment in Iraq. “You’re going through difficult months,” said Ariel Flores, general manager of the BP-led Rumaila Operating Organization (ROO) told the Wall Street Journal. “You slow down and you make decisions to pause efforts.” Rumaila oil field now […]
By Simon Kent. Gazprom Neft, the Russian oil and gas giant, has announced increased production at the Badra field, reaching an aggregate production of 3 million tons in less than two years, according to Sputnik news. Badra has estimated reserves of over 3 billion barrels, and this year Gazprom added another 3 wells, totaling an additional […]
By John Lee. Reuters reports that Baghdad has reached agreement with BP, Shell and Lukoil to restart stalled investment in Iraqi oil fields, allowing production to increase by 250,000-350,000 bpd in 2017. According to documents seen by Reuters, the three firms agreed to spend in the second half of 2016 roughly half the budgets they proposed […]
Russia's Gazprom Neft has commissioned its 10th production well (P-07) at the Badra oil field. Together with the other wells at the field, the P-07 well is in free-flow production. With production volumes at the newly launched well now at 6,527 barrels per day, its commissioning has allowed daily production levels at the field to […]
By John Lee. Russia's Uralvagonzavod (UVZ) reportly stopped deliveries of armoured vehicles to Iraq due to delayed payments. TASS, citing UVZ`s 2015 annual report, stated: "In 2015, the UVZ Corporation stopped the shipping of the defense production to the No.356 customer (Iraq) due to delayed payments." (Source: Defense World)
By John Lee. Iraq has received its final batch of Russian Mi-28 NE Night Hunter military helicopters, TASS news agency has reported. A blog run by Russia's independent Center of the Analysis of Strategies and Technologies, reported that the latest shipment contained the final four of the 15 helicopters ordered by the Iraqi government. A […]
By John Lee. Russia’s Lukoil is in talks with Shell and Total regarding their participation in a petrochemical complex in southern Iraq. President Vagit Alekperov (pictured) told TASS: "To create a petrochemical complex - now the negotiations are under way with Shell and with Total. The Iraqi side supports our efforts." He added that Iraq […]
