By Patrick M Schmidt. The Russian state-owned oil company, Gazprom, is expected to launch exploration operations in Halabja province before the end of the year. The province is located in the region of the Kurdistan Regional Government (KRG) and lays close to the Iran-Iraq border. If they find enough oil reserves, the company will begin […]
Itar-Tass reports that Russia’s Defense Minister, Sergei Shoigu (pictured), intends to expand military-technical cooperation with Iraq. The Minister is quoted as saying: “Military-technical cooperation between our countries develops successfully. The intergovernmental agreement proves its efficiency. “We’re meeting with the Iraqi officials when the country faces difficulties. “We support your efforts in fighting terrorism. “We seek […]
By Patrick M Schmidt. The Iraqi Ministry of Oil has announced that Gazprom Neft, a division of the Russian state-owned Gazprom, had begun production at Badra oilfield in the eastern province of Wasit. "Oil flow from Badra has started on Monday to fill the oilfield storages in preparing to feed the export," said Ministry of […]
By John Lee. The Iranian Fars News reports that Iranian Deputy Foreign Minister Hossein Amir Abdollahian (pictured) has dismissed suggestions that his country had dispatched Sukhoi fighter jets to Iraq. In an interview with the Iran-based Arabic-language Al-Alam on Sunday he said: "The Iraqis have not yet made any demands from the Islamic Republic of […]
By John Lee. Citing Russian state media, IHS Jane's 360 reports that Iraq has taken delivery of its first three Mil Mi-28NE 'Havoc' (Night Hunter) attack helicopters, as well as additional four Mil Mi-35M 'Hind' assault helicopters (pictured). The helicopters arrived aboard Antonov An-124 'Condor' transport aircraft and were delivered in a combat configuration, with […]
From CNN. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. CNN's Phil Black gives us a look around the Su-25 warplane, the model that Iraq has bought from Russia.
By John Lee. Iraq has received the first batch of fighter jets from Russia to help it repel the offensive by Sunni rebels. The defence ministry said five Sukhoi SU-25 attack aircraft would enter service in "three to four days". Prime minister Nouri al-Maliki told the BBC last week that his government had signed a […]
By John Lee. Ravil Maganov (pictured), who oversees Lukoil's exploration and production, has said total investment in the West Qurna-2 field was expected to exceed $30 billion. At its peak in 2019, he said he expects oil production at the field to hit 1.25 million bpd. The world's second-largest undeveloped field, with recoverable oil reserves of around […]
By John Lee. Gazprom Neft has said it has no problems in Iraq and does not feel that its work in the country is under threat. Deputy CEO Vadim Yakovlev (pictured) told reporters on Tuesday: “Of course we are worried because we operate there and our people are still working ... [but] we do not […]
LUKOIL Overseas (the Operator of LUKOIL's overseas upstream projects) has informed Iraq’s Ministry of Oil that it has fulfilled its contractual obligations for first commercial production at West Qurna-2. LUKOIL, the Operator of the West Qurna-2 project, successfully maintained an average daily production of at least 120 thousand barrels for 90 days, entitling it to […]
By John Lee. The Ministry of Science and Technology announced that it will launch a satellite for research purposes on 20th June from a base in the north of Russia. Built in conjunction with La Sapienza University in Rome, the "Tigrisat" satellite (pictured) will also detect dust storms over Iraq. It weighs just 4 Kg […]
On 31 May, Gazprom Neft began production at the Badra oilfield in Iraq. The central gathering station (CGS) is currently undergoing complex testing of its crude oil processing system. Testing will be completed in three months once enough oil has been accumulated for commercial production to begin. The Badra field will then be ready to […]
