By John Lee. In its results for the first quarter of 2015, oil services company Weatherford said it expected "a positive cash outcome on the Zubair project in Iraq as milestones are achieved and continued control of capital expenditures," The company added that "reduction in working capital balances and managing a cash neutral end to […]
By John Lee. Iraq has awarded oil drilling deals with a combined value of $348 million. Associated Press reports that Weatherford picked up two drilling contracts, one for nearly $95 million and another for $82.4 million. Another contract worth $96.7 million went to China's Bohai, while COSL, a division of the China National Offshore Oil […]
By John Lee. Gulf Keystone has announced the commencement of the Company's drilling campaign to explore deeper, yet untested horizons of the world class discovery at the Shaikan field, which the Company operates. Shaikan-7, the first deep exploration well on the Shaikan block, is targeting the mid to lower Triassic and, potentially, Permian horizons, spudded […]
Gulf Keystone notes today's update by MOL Hungarian Oil and Gas Plc., the operator of the Akri-Bijeel Block in the Kurdistan Region of Iraq (in which Gulf Keystone has a 20 per cent working interest), on its extensive exploration and appraisal programme. Bakrman-1 Exploration Well Discovery Bakrman-1, the first exploration well to target the Bakrman […]
By John Lee. Missan Oil Company has announced that the US company Weatherford has successfully completed an oil well at the Bazargan field. It has also rehabilitated another well in the same field, and one at the Faqa oil field. According to a report from AIN, this brings the number of wells Weatherford completed at […]
By John Lee. The Missan Oil Company has announced the completion of 45 new oil wells in the province as well as the rehabilitation of a number of old wells. The Director General of the Company, Ali M'arij, told AIN that "the Chinese company PetroChina drilled 30 new oil wells and rehabilitated six old ones […]
The Director General of Missan Oil Company has announced that 14 of the 20 oil wells at Bazargan [Bazirgan] oil field have been drilled. He said that Weatherford accomplished the drilling operation in record time, and they were working on three of the remaining six wells. The wells have provided production capacity of 6,900 bpd. […]
The Missan Oil Company has completed the Bazargan [Bazirgan] oil well #25, which is reported by AIN to have a capacity of 170, 000 barrel per day. Ali Maarij, the Director General of the company said: "The US company Weatherford recently finished digging Bazargan well within Bazargan field ... The well entered the service with […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
On Tuesday, Iraq's Cabinet approved an $843 million service contract granted to Weatherford International to install six power stations at the Zubair oil field. Government spokesman and Minister of State Ali Al-Dabbagh told Bloomberg the plants will take 18 months to install. Italian company Eni controls almost 33 percent of the Zubair project, with Iraq’s […]
The Director General of the Missan Oil Company has announced that Weatherford has finished the drilling of three oil wells in Bazirgan oilfield. The wells, (Bazirgan 30, 31, and 32) are part of a contract to drill 10 production wells and 10 reserve support wells. Weatherford has already completed the drilling of Bazirgan 24, 25, […]
The China National Offshore Oil Corporation (CNOOC) has presented its plan to develop three Maysan oil fields: Bazirgan, Fakka, Abu Gharb. As part of the plan, Weatherford will drill 180 oil wells. And after finishing the review there was a discussion about the plan, and the engineering staff in MOC shared their notes and questions about some […]
