Writing in Oil Price, Simon Watkins says that China has continued to press home the geopolitical advantage given to it in Iraq following the official end of the U.S.'s 'combat mission' in the country with the conclusion of three huge deals, all focused on the oil sector. Click here to read the full article.
By John Lee. Kuwait Energy has started producing natural gas from the Siba field, south of Basra, on Wednesday. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) announced an inital production rate of 25 million cubic feet a day (mcf/d), increasing to 100 mcf/d by the end of the year. Kuwait Energy was awarded a […]
By John Lee. Kuwait Energy has said that by focusing on its Iraqi operations, it is protected against oil price fluctuations, allowing it to sustain growth and a strong balance sheet even under volatile market conditions. In its Financial Statement for 1st Half 2017, the company says: "Our finances reflect the continued growth in the […]
By John Lee. Kuwait Energy (KEC) has reportedly signed a farm-out agreement giving Egypt General Petroleum Corporation (EGPC) a 20 percent participating interest for Iraq's Siba oilfield. According to Reuters, the agreement is subject to Iraqi regulatory approval. Kuwait Energy has not published any information about the deal on its website. The two companies are […]
By John Lee. Petrojet has been awarded a $185-million (216-billion-Iraqi-dinar) contract to build the first gas-processing plant for Iraq’s Siba field. The Egyptian state-owned company will handle all the gas-processing plant’s related works including engineering, procurement, and construction (EPC). The project aims to increase the field’s production to 110 million cubic feet per day within […]
By John Lee. In an interview with Reuters, the chief executive of Kuwait Energy says the company is committed to pumping gas and finding oil in southern Iraq, and will not risk aggravating Baghdad by pursuing deals in Iraqi Kurdistan. Sara Akbar (pictured) said strong ties with Baghdad are core to its strategic investment in southern […]
By John Lee. Iraq’s Oil Ministry has signed a contract with Kuwait Energy to carry out a seismic survey at the Siba gas field in Basra province. Kuwait Energy and Turkey's TPAO won the Siba contract in October 2010, agreeing to produce 100 million standard cubic feet of gas a day at a price of […]
As part of its third quarter earnings results, Schlumberger has issued the following statements on its operations in Iraq: In Iraq, Wireline MSCT* mechanical sidewall coring technology has been deployed on two exploration wells. Core recovery in the tight and fractured carbonate reservoirs was 100% for each job and the cores will yield the petrophysical […]
Reuters reports that Iraq signed the final contracts on Sunday to develop its Siba and Mansuriyah gas fields in deals involving Turkish, Kuwaiti and South Korean companies that will help diversify the country's fossil fuel production. The Korean Gas Corporation [KOGAS] signed the deal for the Akkas gas field earlier in the week. "This is […]
Iraq's Oil Ministry expects to sign the initial contracts for the Mansuriyah and Akkas gas fields on 14th November, and for the Siba gas field the following day, Abdul-Mahdy al-Ameedi, head of the ministry's licensing and contracting office said on Thursday. "And after the signing we will send the initial contracts to the cabinet for […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
Rumours of a delay in Iraq's gas auction have proved to be true, with companies being given an additional three weeks to consider their response to the new contract terms. Both AKnews and MEED report that the new deadline for submissions is extended from 1st October to 20th October. AKnews suggests that as many as […]
