By John Lee. Genel Energy has confirmed that Chevron Sarta, as operator of the Sarta field (Genel 30% working interest), has signed a contract with Dubai-based OILSERV for the construction, installation, operation and maintenance of a 20,000 bopd central processing facility ('CPF'). OILSERV has been contracted for the facility through a lease agreement. The commissioning […]
Abu Dhabi National Energy Company PJSC (TAQA) has announced that its subsidiary, TAQA Atrush B.V. (TAQA Iraq), has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly production volume exceeded 1 million […]
By John Lee. Abu Dhabi National Energy Company PJSC (TAQA) has announced that the group’s oil and gas business delivered strong performance with an 11% increase in revenue, mainly driven by increased production volumes from its assets in Europe and Iraq. In its financial results and operational highlights for the six-month period ending June 30, […]
Health, sport, nature: Key sites in Mosul reopen after damage by ISIL Al Rabee Primary Healthcare Center, the Al Muthana Sport and Youth Center and the East Mosul Nursery Plantation were officially reopened today by the Government of Ninewa, following their rehabilitation by the United Nations Development Programme (UNDP). “While a lot of work remains […]
By John Lee. The state-owned Trade Bank of Iraq (TBI) is reported to be planning to expand its operations in China and the Gulf. Chairman Faisal al-Haimus [al-Haimus] told Reuters that the bank want to increase revenues from retail banking and international operations from 25 percent to 30 percent by 2022. He added that it […]
By Padraig O'Hannelly. A senior oil executive has predicted that Iraq could surpass Saudi Arabia as an oil producer. Addressing delegates at CWC's Iraq Petroleum conference in London, Majid Jafar (pictured), CEO of Sharjah-based Crescent Petroleum, said: "Iraq is hugely underexplored. We at Crescent know of 300 structures just in the Western Desert that have […]
By John Lee. Oil production in the Al Faihaa area (Block 9) in Basra is reportedly expected to increase in the coming year with increasing investment. Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East that the company plans to increase production in Iraq to 100,000 barrels per day (bpd) by 2025. […]
By John Lee. The Iraq Britain Business Council (IBBC) has welcomed four new members, bringing its membership to 71 companies: Crescent Petroleum: Sharjah-based Crescent Petroleum is the only foreign oil and gas company to maintain a continuous presence in Iraq for three decades, and is the largest private oil and gas investor in the Kurdistan […]
By Padraig O'Hannelly. For much of Iraq's recent history, the trend has been for educated and talented Iraqis to leave the country, and for Iraq to use its oil revenues to import the expertise it needs. But that's changing; to at least some extent, the Iraqi diaspora is returning, innovative home-grown Iraqi businesses are being […]
By John Lee. Pearl Petroleum is reportedly planning to raise additional funding for its drilling and development in Iraqi Kurdistan, According to Reuters, Patrick Allman-Ward, the chief executive of Dana Gas, which is the majority owner of Pearl Petroleum, told reporters that the funding will "comprise a mix of bank debt, a bond, Exim bank […]
Finnish technology group Wärtsilä has said it will supply the equipment to enable an efficient, reliable, and independent power source for an Iraqi cement producing plant. The 20 MW engine power plant is being built by Al Shumookh Lucky Investments Ltd, a JV company of Lucky Cement Limited and a limited liability company registered in […]
By John Lee. The Iraq Container Terminal (ICT) at Umm Qasr Port has reportedly handled container traffic of two million twenty-foot equivalent units (TEUs) since operations started less than nine years ago. According to Hellenic Shipping News, the joint venture between UAE-based Gulftainer and the General Company for Ports of Iraq (GCPI) started operations at […]
