By John Lee. The state-owned Midland Oil Company (MdOC) has announced the signing of a contract to drill eight wells (4+4) in the Naft Khana block in Diyala province. The deal was signed between NK Petroleum Limited, the block's operator, and a consortium comprising Zhongman Petroleum (ZPEC) and H&L Petroleum DMCC, which 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. China Tightens Its Grip On Iraq With Major Successes in Licensing Rounds With this new slew of oil and gas license awards, it may be that China has ultimately got […]
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. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has announced that it has received a letter from Iraq's Petroleum Contracts and Licensing Directorate (PCLD) confirming the successful approval of its qualifications for Iraq's oil and gas field development and operations. In a statement on Thursday to the Shanghai Stock Exchange, the […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has signed a major drilling engineering service contract for Iraq's giant Rumaila oilfield. The contract was signed on Sunday with the Basra Energy Company Limited (BECL), which was set up in 2021 to operate the field, and announced to the markets on Wednesday. […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has signed a partnership contract with the Iraqi Drilling Company (IDC). The Director General of the IDC, Basem Abdul Karim, said that the contract includes the provision of support and completion of the work associated with drilling and reclamation operations at Iraqi oil […]
By John Lee. China’s Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly announced a new drilling contract with Weatherford in Southern Iraq. Chinese media reports that the deal is worth approximately $27 million, and follows another contract with Weatherford in Iraq agreed in December. The oil field was not identified. (Source: Eastmoney)
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly started drilling its first oil well in Iraq's eastern province of Diyala on Tuesday. The mayor of Qazaniya told Xinhua that it is more than fifty years since an oil well was drilled in Diyala province. Mazin al-Khuzaie added that […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group (ZPEC) and BP Iraq have signed an integrated drilling service contract for 15 wells at Iraq's Rumaila oilfield The contract amount is worth approximately $60 million. It is understood that the project was publicly tendered in November 2017. According to a statement from the company, […]
Russia's Rosneft group has started drilling its first exploration well at Block 12 in Iraq. The Salman-1 well will be drilled to the measured depth of 4,245 m through Kurra Chine target horizon to be followed by further testing of five prospective targets. The Company plans to complete drilling in July 2017. Company of Rosneft […]
By John Lee. Iraq has approved a $526.6-million (614 billion Iraqi dinar) drilling deal with China's Zhongman Petroleum and Natural Gas Group (ZPEC) for the West Qurna II oilfield, according to Reuters. Under the 28-month contract, ZPEC will drill 66 production oil wells at the Lukoil-operated field. Current production capacity at West Qurna II is […]
By John Lee. Russia's Gazprom Neft has picked a contractor to drill six production wells in the Badra field in Iraq which it operates. China’s Zhongman Petroleum and Natural Gas Group Co., Ltd (ZPEC) has won the tender. The contract includes engineering, procurement and drilling of wells. Two rigs will start drilling in March 2014. […]
