By John Lee. Occidental Petroleum intends to sell its stake in the Zubair oilfield to Iraq's state-run South Oil Company (SOC), according to a report from Reuters. The news agency quotes ministry spokesman Asim Jihad as saying on Wednesday: "Occidental asked the ministry for permission to sell its stake in Zubair field and the ministry […]
By John Lee. UK-based heavy transport and installation contractor ALE has been awarded the DGS Zubair Oil Field Project. The project scope comprises heavy haulage, engineering and installation services. The DGS project has already commenced and ALE has received several shipments at Umm Qasr Port. A number of cranes, with a capacity ranging from 200t to […]
By John Lee. The Korea Gas Corporation (KOGAS), the state-run South Korean gas company, is to invest $4.9 billion (5.7 trillion Iraqi dinars) to develop the Zubair oilfield. In a stock exchange filing, the company said this investment is part of the total $19.4 billion capital expenditure required for the project, and added that it […]
By John Lee. While describing its activities in Iraq as 'muted', oil services company Schlumberger gave details of two projects in the country in its Second-Quarter 2015 Results. Italy's ENI awarded the company a three-year integrated well construction contract which covers the drilling of 30 wells and includes the provision of land drilling rigs, directional […]
Turkish-based storage tank company Ergil has completed a comprehensive engineering, design, material supply and fabrication project in Iraq. ROSCO (Rafidain Oil Services Co., part of the Jurmat Group Of Companies), the EPC contractor for the New Flow Tanks EPC Project, has awarded the company the engineering, design, material supply and fabrication of 33m dia & […]
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. Egypt’s state-owned Petroleum Projects & Technical Consultations Company (Petrojet) has reportedly won two contracts in Iraq valued at $142.5 million (166 billion Iraqi dinars). In the first contract, worth $75 million, Petrojet will carry out the first phase of the rehabilitation and upgrade of the current facilities in Basra Gas Company, for […]
By Patrick Schmidt. On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project. The investment will help establish the facilities needed to launch the project and help Zubair reach its potential of over 800,000 barrel per day production. KOGAS have a 23% stake in the Zubair […]
UK-based EAME Consultants has announced its appointment as professional environmental adviser to Zubair Terminal Company SAL (ZTC), based in Beirut and Dubai. It was established to develop and operate a greenfield terminal project at the port of Khor al-Zubair in Iraq, in association with its strategic partners, Peel Ports Group (Portia Management Services Ltd), Beirut […]
By John Lee. Iraq's cabinet has approved an $589 million oilfield service contract with South Korea's Daewoo Engineering & Construction. The contract, approved on Tuesday, is for the engineering, procurement and construction of a gas separation facility at the Zubair oilfield. Production at the field is planned to increase from the current 320,000 barrels per […]
Alstom has secured a contract with Eni Iraq B.V. to build the 740 MW Zubair gas-fired power plant near Basra. The contract is valued at close to €400 million. For this turnkey project, Alstom will be responsible for engineering, building and commissioning the plant as well as supplying key equipment - most notably four highly […]
By John Lee. Samsung Engineering Co., Ltd. has officially announced that it was awarded the North (Hammar Mishrif) New Degassing Station Facilities contract for the ENI Zubair Oil Field Development project in Iraq, worth $840 million. The signing ceremony was attended by Samsung Engineering’s President & CEO Mr.Park Choong-Heum, South Oil Company’s Director General Mr. Dheyaa Jaafar […]
