New Oil Refinery announced for Qayara

By John Lee.

Iraq's North Oil Company (NOC) has signed a Heads of Agreement (Memorandum of Understanding) with two energy companies to build a 70,000-barrels-per-day oil refinery in Qayara (Qayyarah).

The facility, Nineveh province, is to be built by Sweden's SEAB and Turkey's Limak.

No information was given regarding the size of the investment or the proposed schedule.

(Source: Ministry of Oil)

The post New Oil Refinery announced for Qayara first appeared on Iraq Business News.

Terrorist Attack on Bai Hassan Oil Field

By John Lee.

A terrorist attack on the Bai Hassan oilfield in Kirkuk early on Wednesday has caused casualties and damage.

A statement from the Ministry of Oil said that wells 177 and 183 were bombed, and "a number of security forces and energy police were killed and wounded".

The safety and firefighting teams from the North Oil Company (NOC) and the supporting authorities were able to quickly extinguish the fire at well 177, but were still working to control the fire of well 183.

Sources told Reuters that production was not affected.

It's the second attack on the facility in less than a month; a bomb in April did not result in damage or injury.

(Sources: Ministry of Oil, Reuters)

The post Terrorist Attack on Bai Hassan Oil Field first appeared on Iraq Business News.

New Contracts for Iraqi Drilling Company (IDC)

By John Lee.

The Iraqi Drilling Company (IDC) has announced its intention to conclude contracts with Chinese and American companies operating in Iraq to drill and rehabilitate dozens of oil wells in the country.

The company indicated it is about to start drilling 20 wells in the Nasiriyah field in Dhi Qar, which are included in a long-term plan with the Dhi Qar Oil Company (DQOC) to advance the oil sector, due to be completed in over two years.

After the relative relaxation of the impacts of the coronavirus, the Iraqi Drilling Company resumed its negotiations with the international companies developing oil fields in the country and their counterparts affiliated with the Ministry of Oil in the provinces, in preparation for signing the postponed contracts with the aim of enhancing Iraq's energy capabilities.

The drilling and rehabilitation contracts, hoped to be concluded soon, include drilling 37 wells in the Zubair field for the Italian company ENI, the main operator of the field, and starting discussions with BP, the main contractor in the Rumaila field, to develop the giant field west of Basra.

This is in addition to the near signing of a contract to drill 43 wells in Majnoon field with the Basra Oil Company (BOC), which is the third largest oil field in the world, with reserves of 6.12 billion barrels.

The Iraqi Drilling Company has completed all its preparations to sign a contract with the Central Oil Company, to drill 27 wells in the East Baghdad field, and it continues its discussions with the Maysan [Missan] Oil Company (MOC) to sign a contract for drilling 22 wells in the Bazargan field as well as rehabilitating another 150 wells and a contract to operate a number of drilling towers and rehabilitation of a large number of wells in the Kirkuk fields with the North Oil Company (NOC).

(Source: Govt of Iraq)

The post New Contracts for Iraqi Drilling Company (IDC) first appeared on Iraq Business News.

BP “Pulls Out” of Kirkuk Oilfield

By John Lee.

BP has reportedly finished its work at Iraq’s giant Kirkuk oilfield.

According to Reuters, sources confirmed that the decision followed the expiration of its $100-million exploration contract at the end of December, at which point there was no agreement on the field’s expansion.

It quotes a source at BP as saying:

“In 2013, BP signed a letter of intent (LOI) with the North Oil Company of the Iraq Ministry of Oil to support field activity studies in Kirkuk. As planned, in December 2019 BP completed field work, studies and recommendations.”

Another source said that the results of the study were “below expectations” and “not encouraging for BP to extend its operations.

Full report here.

(Source: Reuters)

Oil Exports slightly down in September

By John Lee.

Iraq’s Ministry of Oil has announced oil exports for September of 107,276,327 barrels, giving an average for the month of 3.576 million barrels per day (bpd), down from the 3.603 million bpd exported in August.

These exports from the oilfields in central and southern Iraq amounted to 103,010,306 barrels, while exports from Kirkuk amounted to 3,166,848 barrels, and from Qayara 877,196 barrels. Exports to Jordan were 221,977 barrels.

Revenues for the month were $6.345 billion at an average price of $59.149 per barrel.

August export figures can be found here.

(Source: Ministry of Oil)

Oil Exports Slightly up in August

By John Lee.

Iraq’s Ministry of Oil has finalised oil exports for July of 111,706,135 barrels, giving an average for the month of 3.603 million barrels per day (bpd), up from the 3.556 million bpd exported in July.

These exports from the oilfields in central and southern Iraq amounted to 107,520,044 barrels, while exports from Kirkuk amounted to 3,253,665 barrels, and from Qayara 928,947 barrels. Exports through Al-Samoud refinery to Jordan were 3,479 barrels.

Revenues for the month were $6.413 billion at an average price of $57.407 per barrel.

July export figures can be found here.

(Source: Ministry of Oil)

Oil Exports Slightly up in August

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for July of 111,706,151 barrels, giving an average for the month of 3.603 million barrels per day (bpd), up from the 3.556 million bpd exported in July.

These exports from the oilfields in central and southern Iraq amounted to 107,520,044 barrels, while exports from Kirkuk amounted to 3,253,665 barrels, and from Qayara 928,963 barrels.

Revenues for the month were $6.342 billion at an average price of $56.770 per barrel.

July export figures can be found here.

(Source: Ministry of Oil)

Oil Ministry Finalises Export Figures for July

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for July of 110,548,767 barrels, giving an average for the month of 3.556 million barrels per day (bpd), up from the 3.520 million bpd exported in June.

These exports from the oilfields in central and southern Iraq amounted to 106,500,015 barrels, while exports from Kirkuk amounted to 3,119,578 barrels, and from Qayara 929,174 barrels.

Revenues for the month were $6.692 billion at an average price of $60.536 per barrel.

June export figures can be found here.

(Source: Ministry of Oil)

Oil Ministry Finalises Export Figures for July

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for July of 110,548,767 barrels, giving an average for the month of 3.556 million barrels per day (bpd), up from the 3.520 million bpd exported in June.

These exports from the oilfields in central and southern Iraq amounted to 106,500,015 barrels, while exports from Kirkuk amounted to 3,119,578 barrels, and from Qayara 929,174 barrels.

Revenues for the month were $6.692 billion at an average price of $60.536 per barrel.

June export figures can be found here.

(Source: Ministry of Oil)