By John Lee. Iraq's Ministry of Oil has concluded its fifth-plus and sixth oil and gas licensing rounds, with Chinese companies winning most of the fields awarded: Fifth-plus licensing round: Abu Khema: Zhenhua Oil Ad Daimah: KAR Group Alan: KAR Group Block 7: China National Offshore Oil Corporation (CNOOC) Dhufriyah: Anton Oil Fao: United Energy […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of the oil well EBS-68 as part of the contract with the Chinese company Zhenhua to drill 27 oil wells at the East Baghdad field, in collaboration with China Oilfield Services Limited (COSL), a division of the China National Offshore Oil Corporation […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of oil well EBS-64 as part of the contract with the Chinese company Zhenhua, aiming to drill 27 oil wells at the East Baghdad field. The operation, conducted in collaboration with China Oilfield Services Limited (COSL), a division of the China National […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of the EBSH-54 oil well at the East Baghdad field. The well was drilled to a depth of 3,636 meters, as part of a contract with EBS Petroleum to drill 27 oil wells at the field in collaboration with China Oilfield Services […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully conducted the first coring operation in the Southern part of the East Baghdad Field, specifically in the Hartha Formation. EBS Petroleum, the Chinese field operator, reported that through the detailed analysis of the oil and gas evidence from the core samples, achieving a 100% success […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani (pictured), visited the East Baghdad oil field in Nahrawan and Suwayrah regions, expressing a commitment to increase crude oil production and invest in associated gas. The field currently produces 30,000 barrels per day, with a peak production goal of 40,000 barrels per day under the 2018 […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. IOC's Strategic Positioning in Iraq Upstream Petroleum Much talk have been circulating recently on "Big Oil" abandoning Iraq upstream petroleum projects after they rushed into the country many years ago. How much […]
Writing in Oil Price, Simon Watkins says Iraq is playing the United States and China off against each other in the awarding of contracts for infrastructural development and oil sales. Click here to read the full story.
By John Lee. Iraq has reportedly cancelled its $2-billion pre-paid oil supply agreement with Zhenhua Oil Company. Under a deal said to have been agreed in January, the state-owned Chinese company would pay Iraq in advance for a year's supply of oil. S&P Global Platts reported the following month that Iraq had "frozen" the deal, […]
By John Lee. Iraq has reportedly "put on hold" it oil contract with China's Zhenhua Oil. The multi-billion-dollar agreement would have seen Zhenhua pre-pay Iraq's State Oil Marketing Organization (SOMO) for a regular supply of crude oil. Oil prices have risen significantly since the deal was struck. More here. (Source: S&P Global)
By John Lee. Iraq's Ministry of Oil has signed an outline agreement with a Chinese consortium for the development of the Dhi Qar refinery. A Ministry official described the signing of the initial principles agreement as an important step forward, and a prelude to the signing of the final investment contract for the Dhi Qar […]
By John Lee. Iraq has reportedly awarded a Chinese company a deal which would see it paying $2 billion upfront for a year's supply of oil. Alaa al-Yasiri, General Manager of State Oil Marketing Organization (SOMO) told Iraqi News Agency (INA) that a Chinese company had won the contract ahead of a European company, but […]
