The latest West Qurna Oilfield News – Baker Hughes, contract, Shell, Lukoil, Russia, new oil wells and more – brought to you by Iraq Business News.
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's 7 Million bpd Oil Production Goal Draws Swift Response from Chinese Firms The recent reiteration by Iraq Oil Ministry of a 7 million barrels per day (bpd) oil production […]
By John Lee. Iraq's Ministry of Oil celebrated the groundbreaking of the West Qurna 1 Field Operations Center (Phase 1) and inaugurated several service projects in Al-Sadiq District, Basra Province. The initiatives were carried out by the Basra Oil Company (BOC) in collaboration with PetroChina, the operator of the West Qurna 1 field. The new […]
By John Lee. Basra Oil Company (BOC) has opened the first phase of a new fuel depot at the West Qurna 1 field. The depot, with a storage capacity of 800,000 liters, was opened by Mr. Asaad Aboud, Director of the West Qurna 1 Field Operations. Mr. Aboud explained that the current storage capacity of […]
By John Lee. The Iraq Drilling Company (IDC) has successfully completed the drilling and restoration of three new oil wells in the Zubair and West Qurna fields. The technical teams drilled well IDC 626 to a depth of 3,634 meters for Italy's ENI, in cooperation with Schlumberger. This marks the 35th well completed as part […]
By John Lee. Under the patronage of Oil Minister Hayyan Abdul Ghani, Basra Oil Company (BOC) organized a ceremony for the handover of the main operator role for the West Qurna 1 oilfield. The event, attended by the Ministry's Deputy for Extraction Affairs Basim Mohammed Khudair, marked the transfer of management responsibilities to China's PetroChina, […]
By John Lee. State-run Iraqi News Agency (INA) has reported that the management of the West Qurna 1 oil field in northern Basra has announced a plan to increase the capacity of the seventh isolation station to 320,000 barrels per day (bpd) by 2025. The isolation station began production in 1998 at a rate of […]
By John Lee. The Iraqi Ministry of Oil has received approval from the Ministerial Energy Council (Recommendation 23067/T) for a final settlement with ExxonMobil. This settlement, known as the "Settlement Agreement," resolves longstanding disputes arising from the service contract for the West Qurna oilfield project between Basra Oil Company (BOC) and US-based oil giant. The […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has inaugurated new projects intended to sustain and increase production in the West Qurna 1 oil field, which has current production at 560,000 barrels per day (bpd). The projects include a water treatment unit with a capacity of 235,000 barrels per day, aimed at optimizing water […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. China Makes Big Moves To Secure Iraqi Oil Whilst the U.S. and its allies appear to be taking a subtle approach to advancing their remaining interests in Iraq, as hinted […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Ending ExxonMobil Presence in WQ1 Oilfield Legal-Contractual Discussion with Economic-Financial Analysis Information indicates that the Iraqi Ministry of Oil (MoO) proposed to acquire (buy) ExxonMobil's participation interest (PI) in the West Qurna […]
By John Lee. Pertamina, the Indonesian state-owned energy company, will reportedly buy an additional 10 percent stake in the West Qurna 1 oilfield from ExxonMobil. The Deputy Director-General of the Basra Oil Company (BOC), Hassan Muhammad Hassan, told the official Iraqi News Agency (INA) that the agrreement, "is subject to the signing of the settlement […]
Writing in Oil Price, Simon Watkins that the recent approval of the Iraqi National Oil Company (INOC)'s acquisition of ExxonMobil's 32.7 percent stake in the West Qurna 1 oil field is likely to leave China delighted, the U.S. irritated, and Iraq's oil industry still unable to achieve any of its key oil output goals. Click […]
