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Iraqi Oil Minister pushes Development of Eridu Oil Field

By John Lee.

Iraq’s Minister of Oil, Ihsan Abdul Jabbar Ismail, has stressed the importance of developing the Eridu (Arido) oilfield in Block 10, which is in the Muthanna and Dhi Qar provinces.

This came during a meeting with Lukoil‘s Vice President for Central Asia, Middle East, and North African affairs, Stepan Gorgi, and his accompanying delegation.

The Minister said that the ministry is awaiting the approval of the Council of Ministers of the joint development program for the field, commending the technical study of Lukoil.

He added the need to continue the development of West Qurna 2 field, and commended the cooperation between the Ministry and Lukoil to develop oil and energy sector.

The meeting was attended by the Senior Vice President of National Oil Company (INOC), Hamid Younis, the Director General of Petroleum Contracts and Licensing Directorate (PCLD), Ali Maarij. On the Russian side, the meeting was attended by Lukoil General Manager, Alexey Yakovlev, and the 10th block project manager, Edward Tcheloyansh, and vice manager of Iraq branch, manager of Lukoil reprentative office in Baghdad, Resan Sednavi.

(Source: Ministry of Oil)

The post Iraqi Oil Minister pushes Development of Eridu Oil Field first appeared on Iraq Business News.

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Iraqi Cabinet approves New “Alternative Energy” Power Plants

By John Lee.

The Iraqi Cabinet has agreed to approve a recommendation from the National Investment Commission (NIC) for the Ministry of Electricity to proceed with an investment project for the construction of seven “alternative energy” power plants.

The new power stations are to be built in Karbala, Wasit, Babylon, and Al-Muthanna provinces.

(Source: Govt of Iraq)

The post Iraqi Cabinet approves New “Alternative Energy” Power Plants first appeared on Iraq Business News.

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Indian Firm Wins $37m Seismic Contract in Iraq

By John Lee.

Indian-based Asian Oilfield Services Limited has announced that it has won orders totalling $37 million in Iraq.

The orders relate to seismic acquisition at Block 12, with $12 million for a 2D survey and $25 million for a 3D survey.

Block 12, located in the Najaf and Muthanna provinces, is being developed by Russia’s Rosneft, and PetroVietnam.

According to a statement issued to the Bombay Stock Exchange, the order is to be executed within FY20 and FY21.

The company has previously carried out 3D surveys at the Shakal block and Taza block in Iraqi Kurdistan.

(Source: Asian Oilfield Services)

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Deadlines Extended for 2 More Oil Refineries

By John Lee.

The Ministry of Oil has extended the closing dates for tenders for two new oil refineries:

Companies interested in investing must submit their documents by the end of working hours on Sunday, 30th October 2018.

For further information please contact studies@oil.gov.iq or studies.oil@gmail.com.

(Source: Iraqi Ministry of Oil)

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Crescent signs Initial Contracts to Develop 3 Blocks

By John Lee.

UAE-based Crescent Petroleum has signed the initial contracts to develop the oil fields of Gilabat-Qumar (in Diyala), Khashim Ahmer-Injana (in Diyala), and Khudher Al-Mai [Khider al-Mai] (in Basra and Muthana).

Mr. Abd Allah Al-Kadhi, the head of exploration and production in the company, said that production will start after three years.

The contracts will now be sent to the Cabinet to be ratified for final signature.

(Source: Ministry of Oil)

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Lukoil signs Contract for Exploration at Block 10

Russia’s Lukoil has signed contracts with the state-owned Iraqi Oil Exploration Company to carry out seismic surveys at the Eridu field in Block 10, and also at Block 10’s southern and central parts, previously not part of the survey.

The scope of appraisal works at Eridu field includes a 3D seismic survey of 983 square kilometers to update the extension of the field and its geological structure.

At Block 10, 2D seismic acquisition of the southern and central parts is planned to be accomplished over an area of 3,500 linear kilometers to ensure the mapping of targets for prospect drilling.

The approved geological exploration plan for Eridu field envisages the drilling of additional appraisal wells on a mid-term horizon.​

Block 10, covering 5,600 square kilometers, is located in the governorates of Dhi Qar and Muthanna, 120 kilometers west of Basra. The interests in the project are: Lukoil – 60% (operator), Inpex Corporation (Japan) – 40%.

The Iraqi party to the agreement is represented by the state-owned South Oil Company (SOC).

The drilling of the first exploration well, Eridu-1, in February of 2017 led to the discovery of a major oilfield. Preliminary data indicate it is the most significant discovery in Iraq for the past 20 years.

The drilling of the second and third wells confirmed the field’s earlier assumed geological model.Block 10, covering 5,600 square kilometers, is located in the governorates of Dhi Qar and Muthanna, 120 kilometers west of Basra.

(Source: Lukoil)