Posted on

Baker Hughes to Boost Gas Production at Nassiriya and Gharraf

By John Lee.

US-based Baker Hughes has reportedly signed a contract with state-owned Dhi Qar Oil Company (DQOC) to increase production of associated gas at the Nassiriya and Gharraf [Garraf] (pictured) oilfields.

Anwar Hadi Shiaa, a director of the DQOC, told the state-controlled Iraqi News Agency that the company aims to increase the gas production from 20 million standard cubic feet to 200 million standard cubic feet at the two oilfields “in the coming period.”

He added that a contract has been made with Baker Hughes, in cooperation with the South Gas Company (SGC), which wil lead to an 80-percent increase in production.

(Source: INA)

The post Baker Hughes to Boost Gas Production at Nassiriya and Gharraf first appeared on Iraq Business News.

Posted on

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.

Posted on

IDC starts Drilling 20 Oil Wells at Nasiriyah

By John Lee.

The Iraqi Drilling Company (IDC) has started work on the first of its 20 oil wells at the Nasiriyah oil field in Dhi Qar.

IDC’s Director General, Basem Abdul Karim, said that the project is part of a contract with the Dhi Qar Oil Company (DQOC) in cooperation with Weatherford.

The planned depth of the well is 2,200 meters.

The project is to be completed within 18 months.

(Source: Ministry of Oil)

The post IDC starts Drilling 20 Oil Wells at Nasiriyah first appeared on Iraq Business News.

Posted on

Construction Starts at $94m Shatra Hospital

By John Lee.

The Secretary-General of Iraq’s Council of Ministers, Dr. Hamid Naim Al-Ghazi [Hamed Al Gazi] has laid the foundation stone for a 200-bed general hospital in Shatra City, in Dhi Qar province.

The hospital will serve the inhabitants of Shatra and the surrounding areas.

UK-based Protechnique will complete the project within 36 months, under the supervision of Japanese engineering firm ITEC and the Iraqi Ministry of Health.

Funding for the $94-million project includes a loan from the Japan International Cooperation Agency (JICA).

(Source: Protechnique)

The post Construction Starts at $94m Shatra Hospital first appeared on Iraq Business News.

Posted on

Block 10 More Attractive for Lukoil than West Qurna 2

Writing in Oil Price, Simon Watkins points out that the $5.99-per-barrel remuneration that Lukoil will receive under its technical service contract at Block 10 is considerably better than its $1.15/barrel payment at West Qurna 2.

Block 10 includes the Eridu field, which has indicated oil reserves of between 7 and 12 billion barrels, and a proposed peak production rate of 250,000 barrels per day (bpd).

Lukoil has a 60-percent stake in Block 10, with Inpex owning 40 percent.

Click here to read the full article.

The post Block 10 More Attractive for Lukoil than West Qurna 2 first appeared on Iraq Business News.

Posted on

Petronas opens New Well at Garraf Field

By John Lee.

Petronas Carigali Iraq Holding B.V. has opened its K-123 well in the Garraf Contract Area in Dhi Qar.

Present at the event were, Petronas Vice President International Assets of Upstream Mr. M Jukris A Wahab; Director, Managing Executive Officer and President of Middle East, Asia & Europe Project Division of Japex, Mr. Toshiyuki Hirata; and Petronas Iraq Country Chairman, Mr. Norafizal Mat Saad.

The field is operated by Petronas (45%), Japex Garraf Ltd (30%), and North Oil Company (25%). (Japex Garraf Ltd is owned as follows: Japex 55%, Mitsubishi Corporation 10%, and JOGMEC 35%).

(Source: Petronas)

The post Petronas opens New Well at Garraf Field first appeared on Iraq Business News.

Posted on

Jordanian Firm to build Shatrah General Hospital

By John Lee.

The Iraqi Ministry of Health has signed the contract for the construction of the Shatrah General Hospital, in Dhi Qar governorate.

Acting Minister of Health, Dr. Hani Al-Uqabi, signed the contract with a Jordanian company to build the 200-bed facility, with fund including a loan from the Japan International Cooperation Agency (JICA).

The hospital will serve a population of approximately 400,000 people.

(Source: General Secretariat for the Council of Ministers)

The post Jordanian Firm to build Shatrah General Hospital first appeared on Iraq Business News.

Posted on

LUKoil files Development Plan for Iraq’s Eridu Oilfield

By John Lee.

Russia’s LUKoil and Japan’s Inpex Corporation have applied to Iraq’s state-owned Dhi-Qar Oil Company (DQOC) for what Lukoil describes as “commerciality of reserves“, and filed a preliminary proposal on the development of the Eridu oil field within Block-10.

According to Lukoil, geological exploration has proved significant reserves, making Eridu the largest discovery in Iraq in the last twenty years.

Oil Minister Ihsan Abdul Jabbar told the Iraqi News Agency (INA), that “the results of the exploration for the Arido field are good … Lukoil requested an extension of the period to obtain greater reserves.“

The Eridu field was discovered in 2016. Preliminary expectations based on studies presented by the Lukoil indicate oil reserves of between 7 and 12 billion barrels, and a proposed peak production rate of 250,000 barrels per day (bpd).

Lukoil has a 60-percent stake in Block 10, with Inpex owning 40 percent.

(Sources: Lukoil, INA, Ministry of Oil)

The post LUKoil files Development Plan for Iraq’s Eridu Oilfield first appeared on Iraq Business News.

Posted on

INOC to Negotiate with Chevron to Develop Dhi Qar Oil Fields

By John Lee.

The Iraqi Cabinet has authorised the Iraqi National Oil Company (INOC) to negotiate directly with US oil company Chevron to develop four oil fields in Dhi Qar Governorate.

According to a statement from the Ministry of Oil, the fields constitute the Nasiriyah block, which has a target output of 600,000 barrels of crude oil per day (bpd) over a seven-year period.

The announcement follows last month’s approval by Iraq’s Ministerial Energy Council for discussions to go ahead.

Chevron currently has interests in the Sarta and Qara Dagh blocks in Iraqi Kurdistan.

(Source: Ministry of Oil)

The post INOC to Negotiate with Chevron to Develop Dhi Qar Oil Fields first appeared on Iraq Business News.