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Cabinet Extends Contracts of KBR and Antonoil at Majnoon

By John Lee.

The Iraqi Cabinet has approved the renewal of two contracts at the Majnoon oil field.

Chinese company Anton Oilfield Services Group (Antonoil) is to continue to provide Integrated Field Management, while the American company KBR will provide Engineering, Procurement and Construction Management (EPCM).

The decision allows for the extension of the contracts for two more years, with an option to increase that to three years.

Both companies were awarded the contract by Basra Oil Company (BOC) in 2018, when BOC took over operations at Majnoon from Shell.

(Source: Office of the Prime Minister)

The post Cabinet Extends Contracts of KBR and Antonoil at Majnoon first appeared on Iraq Business News.

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Anton Oilfield Services Targets Expansion in Iraq

By John Lee.

China’s Anton Oilfield Services (AntonOil) has reported that the Group has received written confirmation from its Iraqi customer in advance that it will automatically renew the 2-year contract after its expiry on July 1, 2020 for one year.

In its unaudited interim results for the one year ended 31 December 2019, it added:

“The Group is confident to rely on quality management to continue to create value for customers and strive to provide long-term and continuous management services for the oilfield. In addition, the Group will make every effort to expand towards the markets of other international oil companies in Iraq, actively seek cooperation opportunities with more international oil companies.”

It said that its large-scale integrated oilfield management project in Iraq has been running smoothly for one and a half years, and:

“in 2019, the Company obtained a total of approximately RMB2,137.2 million of new orders in the Iraqi market, an increase of approximately 22.8% compared to RMB1,740.5 million in the same period last year; the Company recorded revenue of approximately RMB1419.8 million, an increase of approximately 21.3% from the RMB1,170.6 million in the same period last year.“

The company is involved in the development of the Majnoon Oil Field in Basra.

(Source: Anton Oilfield Services)

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Shell hands over Majnoon Oilfield

By John Lee.

Shell has reportedly exited the Majnoon oilfield and handed over its operations to the Basra Oil Company (BOC).

Sources told Reuters that the handover was formalised on Wednesday, and that the process was “smooth“.

According to the news agency, Anton Oilfield Services (AntonOil) and Petrofac will now operate the giant oilfield on behalf of the BOC, under a two-year contract; last month, KBR announced that it will has been awarded a contract for the development of the field.

(Source: Reuters)

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KBR Confirms Contract to Develop Majnoon

KBR, Inc. announced today that it has been awarded a contract by the Basra Oil Company (BOC) for the development of the Majnoon Oil Field in Basra, Iraq.

Under the terms of the contract, KBR says it will provide overall project management, multi-discipline engineering support, procurement and construction management services to BOC under a two plus one year extendable service contract.

Jay Ibrahim (pictured), KBR President Europe, Middle East, Africa and Asia-Pacific region, commented:

“KBR has a long and rich history in Iraq and we are excited to be able to leverage our broad expertise in onshore oil and gas processing facilities across the project lifecycle as a true partner to BOC.

“This award highlights BOC’s confidence in KBR’s capabilities to deliver in multiple engineering discipline areas across a variety of projects. We look forward to transferring our knowledge and experience to local Iraqis in order to leave a lasting legacy in the country.“

A statement from the Ministry of Oil at the end of April put the value of the contracts with KBR and China’s Anton Oilfield Services Group (Antonoil) at $118 million, adding that there would be “other secondary contracts” to follow.

BOC is expected to take over operations at Majnoon from Shell by the end of June.

(Sources: KBR, Ministry of Oil)

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New Contracts Signed to operate Majnoon Oilfield

By John Lee.

Basra Oil Company (BOC) has signed contracts with the Chinese company Anton Oilfield Services Group (Antonoil) and the US company KBR to operate and maintain the Majnoon oil field.

A statement from the Ministry of Oil put the value of the contracts at $118 million, adding that there would be “other secondary contracts” to follow.

BOC will take over operations at Majnoon from Shell by the end of June.

(Source: Ministry of Oil)

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Antonoil, Petrofac to take over Majnoon from Shell

By John Lee.

Oil executives have told Reuters that the Iraqi Oil Ministry has signed a two-year contract with China’s Anton Oilfield Services (Antonoil) and Petrofac to operate the giant Majnoon oilfield (pictured).

The companies will operate the oilfield on behalf of the state-owned Basra Oil Company (BOC), which will take over operations from Shell by the end of June.

(Source: Reuters)

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KBR, Anton Oil to replace Shell at Majnoon?

By John Lee.

According to a report from Platts, the Iraqi oil ministry is about to award two management contracts to replace Shell at the Majnoon oil field.

Sources say the state-run Basra Oil Company (BOC) has opted to operate the field instead of replacing Shell, and junior partner Petronas, which announced last year it was relinquishing its 2010 technical service contract.

They added that KBR will play a project management consultant role, while China’s Anton Oil will handle production operations and management, ch after the recent oil price decline — which altered the financial equation for the contract.

More here from Platts.

(Source: Platts)