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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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New Drilling Contracts Awarded at Majnoon

By John Lee.

Basra Oil Company (BOC) has signed two contracts for new drilling at the giant Majnoon oil field.

China’s Hilong Oil Service & Engineering Company is to drill 80 oil wells at a cost of $54 million, while the Iraqi Drilling Company (IDC) will drill 43 oil wells at a cost of $255 million.

Oil Minister Thamir al-Ghadhban said the contracts are part of BOC’s plan to increase the production at Majnoon to 400,000 barrels per day by 2022.

(Source: Iraqi Ministry of Oil)

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Video: Iraq tries to Attract Foreign O&G Investments

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraq’s government wants to see a big increase in oil production.

Oil and natural gas make up 90 percent of the country’s revenue.

But years of war and new environmental challenges are making it difficult to attract vital international investment.

Al Jazeera’s Osama Bin Javaid reports from the Majnoon oil field near the Iranian border:

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Increased Oil Production planned for Majnoon

By John Lee.

Oil production at Majnoon oilfield is reportedly planned to increase from 240,000 barrels per day (bpd) currently to 290,000 bpd by the end of 2019 and 450,000 bpd by the end of 2021.

State-owned Basra Oil Company (BOC) took over the field from Shell and Petronas at the end of June 2018, with operations and maintenance contracted to Chinese company Anton Oilfield Services Group (Antonoil) and the US company KBR.

More here.

(Source: Reuters)

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Schlumberger to Drill 40 Wells at Majnoon

By John Lee.

US-based Schlumberger has won a deal with Iraq’s Basra Oil Company (BOC) to drill 40 new wells at Majnoon oilfield.

In a statement on Wednesday, the Ministry of Oil also announced that the BOC had entered into a 19-month contract with the Iraqi Oil Exploration Company to carry out 2D and 3D seismic surveys at the field.

(Source: Ministry of Oil)

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Petrofac awarded Basra Oil Company EPC Contract

Petrofac has been awarded a contract worth around US$370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in the Majnoon Field, Southern Iraq.

Under the terms of the 34-month contract, the lump-sum engineering, procurement and construction (EPC) project scope of work includes two oil processing trains, able to process 200 kbopd.

Petrofac was previously awarded a contract in 2011 and delivered engineering, procurement and construction management for the execution and completion of the existing CPF at Majnoon.

Elie Lahoud, Group Managing Director, Engineering & Construction – Iraq, Oman and Saudi Arabia, commented:

“We have developed a significant track record in Iraq with enhanced local delivery, successfully providing services both onshore and offshore since 2010. This important contract win demonstrates Petrofac’s long-lasting client relationships and our ongoing commitment to extending our operations in this key market that complements our broad service capabilities, international experience and expertise.”

(Source: Petrofac)

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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)