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 […]
On the sidelines of the SPIEF'16 - St. Petersburg International Economic Forum, Kurdistan Region Prime Minister Nechirvan Barzani and his delegation met Mr. Alexander Novak, Russian Minister of Energy. Minister Novka welcomed the participation of Prime Minister Barzani and his delegation at St. Petersburg International Economic Forum, stressing the need to further develop the old […]
By John Lee. Russia’s Lukoil plans to offset the costs on Iraqi fields in August, company President Vagit Alekperov (pictured) told TASS on Friday. He added that Iraq is ready to start negotiations to improved contract terms. (Source: TASS)
By John Lee. The chief executive of Russia's Tatneft has said the company is interested in projects in Iran and Iraq. Nail Maganov (pictured) was speaking to Reuters on Friday on the sidelines of the St Petersburg International Economic Forum (SPIEF). (Source: Reuters)
By John Lee. The First Deputy Chief Executive Officer of Russia's Gazprom Neft has said that the company plans to boost oil production at Iraq's Badra oil field from 65,000 barrels per day at present to 115,000 bpd "in the next year". Vadim Yakovlev told the St. Petersburg International Economic Forum (SPIEF) on Thursday that […]
By John Lee. The Chief Executive of Russia's Lukoil has said he expects further investment in Iraq, now that the country "actively repaying" the international oil companies for their investment in the country. Vagit Alekperov (pictured) told Reuters: "Iraq is very actively repaying the operators. The situation has changed dramatically. "We know about the IMF […]
By John Lee. Russian oil company Lukoil has announced that, in the first quarter of 2016, the Group received 2.6 million tonnes of compensation crude from Iraq's state-owned South Oil Company as cost compensation within the West Qurna-2 project (in the first quarter of 2015, the Group received 2.3 million tonnes of compensation crude oil). […]
WesternZagros Receives Approval for Garmian Field Development Plan and Submits Kurdamir Field Development Plan WesternZagros Resources has announced the approval of the Garmian Block Field Development Plan ("FDP") from the Kurdistan Regional Government ("KRG") and the submission of the Kurdamir Block FDP. Garmian Block Field Development Plan Approval WesternZagros and its co-venturer, Gazprom Neft Middle […]
