The contract, estimated at several billions of dollars, is to take place in oil fields in southern Iraq.
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“The product of these fields will initially be used to supply electricity stations and for other domestic needs, with the rest to be exported. The ministry hopes that Iraq will reach the level of other gas producers in the region.”
Royal Dutch Shell Plc, Europe’s biggest oil company, posted a 57 percent increase in earnings after production climbed for the first time in more than three years following startups in Brazil and Russia. Net income in the first quarter rose to $5.48 billion from $3.49 billion a year earlier, The Hague-based Shell said in a […]
The initial development plan agreed by Royal Dutch Shell, Malaysian partner Petronas and Iraqi oil officials includes inviting oil service firms to drill 15 new wells, an Iraqi oil official confirmed today.
(Source: Petroleumworld.com) Iraq Prepares New Gas Field Licensing, Cuts Oilfield Signatory Bonuses Retroactively Iraq’s Oil Ministry has released plans to tender three gas fields—previously part of the first and second licensing rounds—to 15 invited companies and has named Shell, Total, and KOGAS as frontrunners, while also confirming that signatory bonuses for the renegotiated West Qurna-1 […]
Malaysia’s Petroliam Nasional Bhd, or Petronas, has started recruiting hundreds of Iraqis for four oil projects the company won during Iraq’s second licensing auction in December.
The Iraqi Oil Ministry is planning to hold a third licensing auction to develop three discovered gas fields Akkas, Mansouriya and Siba by the end of this year.
Iraq will invite 15 companies before the end of the year to bid to develop three gas fields and Royal Dutch Shell, Total and South Korea’s KOGAS are the favourites.
Iraq’s Oil Ministry has slashed signature bonuses on two oilfield development deals …… but is turning them into unrecoverable payments.
Iraq and Royal Dutch Shell Plc can reach an agreement on a gas project by extending negotiations for another six months in order to settle storage issues, Oil Ministry spokesman Asim Jihad said. Jihad said there were “no difficulties” in the talks, except that “storage places are currently not ready.” “There is no harm in […]
Royal Dutch Shell Plc, which won contracts last year to develop two Iraqi oilfields, is still in talks on a plan to capture and sell natural gas there, the company’s Middle East vice president for new business said.
Iraq’s Majnoon oilfield is targeting production of 175,000 barrels of oil equivalent per day in 2012, a senior Royal Dutch Shell executive said on Monday.