Cursor International executes projects and collaboration activities across several industries.
By John Lee.
Private investors from Iraq and Turkey have reportedly held preliminary negotiations with Iran to expand and modernize its fuel stations.
According to a report from Petrol Plaza, there are 3,600 fuel stations and 2,400 compressed natural gas (CNG) stations in Iran which need renovation and investment.
To date, more than 250 state-controlled fuel stations have been privatized in the country.
(Source: Petrol Plaza)
(Picture credit: Asadi S)
By John Lee.
The state-owned Korea Gas Corporation (KOGAS) has said that it has recouped its $2.49 billion investment in the Zubair oil field in southern Iraq.
According to a report from Yonhap, the company has recovered $2.53 million as of December, which exceeds its initial outlay.
The oilfield is currently producing around 360,000 barrels of crude oil per day.
The project primarily involves the drilling of more than 200 wells, the construction of treatment and storage facilities and refurbishment of the existing facilities.
(Source: Yonhap)
By John Lee.
Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has hosted a meeting in Baghdad with the French Minister of State for Foreign Trade, Jean-Baptiste Lemoyne, confirming the significance of the economic and financial relations between the two countries.
Both sides expressed hopes for major cooperation in all sectors, including oil, industrial, agricultural, commercial, transportation, and housing.
Mr. Lemoyne said that he saw a keenness from the Iraqi side to encourage and invite the French companies to invest in Iraq.
(Source: Office of the Iraqi Prime Minister)
DNO ASA, the Norwegian oil and gas operator, today announced a tripling of production from the Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 15,000 barrels of oil per day (bopd) following completion of the Peshkabir-3 well testing, stimulation and cleanup program.
A total of 11 zones in a 1.2 kilometer horizontal section of Cretaceous and Jurassic reservoir in the Peshkabir-3 well were individually tested and flowed successfully, of which ten were oil zones and one a gas zone.
The oil zones tested an average of 5,340 bopd per zone on a 64/64″ choke, with the highest individual test rate of 7,200 bopd. A multi-zone combined production test totaled 12,500 bopd on a 128/64″ choke from five zones.
Production from the previously drilled Peshkabir-2 well, in operation since May, together with that of the new Peshkabir-3 well are currently processed through temporary test package facilities and trucked to DNO’s adjacent Tawke field facilities for export.
As previously announced, the Tawke license partners are proceeding with fast track plans to commission an early production facility by yearend and complete installation of pipeline connections early in 2018 to allow ramp up of output at the Peshkabir field.
Preparations are underway to drill the Peshkabir-4 well which will also be designed to test the underlying Triassic reservoir.
DNO operates and has a 75 percent interest in the Tawke license, with partner Genel Energy plc holding the remainder. The license contains the Tawke and Peshkabir fields whose combined year-to-date production has averaged 110,000 bopd.
(Source: DNO)
Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year.
“This is an agreement for one year and then we will see after that whether to renew it,” Luaibi told reporters in Kuwait City on the sidelines of an Arab oil ministerial meeting, Reuters reported.
The agreement signed on Friday by the two OPEC countries provides for Iran to deliver to Iraq’s southern ports “oil of the same characteristics and in the same quantities” as those it would receive from Kirkuk.
The deal in effect allows Iraq to resume sales of Kirkuk crude, which have been halted since Iraqi forces took back control of the fields from the Kurds in October.
Between 30,000 and 60,000 bpd of Kirkuk crude will be delivered by tanker trucks to the border area of Kermanshah, where Iran has a refinery.
The two countries are planning to build a pipeline to carry the oil from Kirkuk, so as to avoid trucking the crude.
The pipeline could replace the existing export route from Kirkuk via Turkey and the Mediterranean by pipeline.
(Sources: Tasnim, under Creative Commons licence; Iraqi Ministry of Oil)
The UN Security Council announced on Friday that all the measures imposed in its resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations in relation to the Iraq oil-for-food programme had been fully implemented.
Unanimously adopting resolution 2390 (2017), the Council welcomed the fact that the remaining funds in the escrow accounts established pursuant to resolution 1958 (2010) had been transferred to the Government of Iraq pursuant to resolution 2335 (2016).
The Council acknowledged the Secretary-General’s final report on the matter (document S/2017/820), which stated, among other things, that the remaining $14,283,565 in the administrative escrow account had been transferred to Iraq.
Following the adoption, Amy Noel Tachco (United States) applauded Iraq’s complete implementation of measures under the oil-for-food programme, although the country still faced many challenges. She looked forward to close cooperation internationally and bilaterally in support of Iraq as a federal, democratic and prosperous country.
Resolution
The full text of resolution 2390 (2017) reads as follows:
“The Security Council,
“Recalling its resolutions 1958 (2010) and 2335 (2016),
“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,
“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);
“2. Also welcomes that the remaining funds in the escrow accounts established pursuant to paragraphs 3–5 of Security Council resolution 1958 (2010) have been transferred to the Government of Iraq pursuant to Security Council resolution 2335 (2016);
“3. Concludes that all the measures imposed by the Security Council in resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations have been fully implemented by the parties.”
(Source: UN)
By John Lee.
The Iraqi Ministry of Oil has denied reports that Russian Energy Minister Alexander Novak discussed Russian oil companies’ operations in Iraqi Kurdistan with the Iraqi prime minister or oil minister during his trip to Iraq.
Novak had been quoted as saying that Baghdad had no problems with Russian companies doing business with the Kurdistan Regional Government (KRG).
Baghdad reasserted that while it welcomes foreign investment in the country, “oil is a sovereign resource and therefore all contracts … must be signed with the federal government and the Ministry of Oil.”
(Sources: Reuters, Rudaw)
By John Lee.
Saudi Arabian companies have signed 18 agreements with the Iraqi government to jointly develop several key projects in the energy sector.
The statement from the Iraqi Oil Ministry gave little detail, but quotes the Saudi Minister of Energy Khalid Al-Falih as saying that Saudi companies are keen to develop relations with Iraq, adding that several important Saudi companies will open their branches in Iraq to “achieve more bilateral cooperation and expand the size of investments in the sectors of oil, gas, industry, importing, infrastructure and [other sectors].”
According to Reuters, both petrochemical giant Saudi Basic Industries Corp (SABIC) and Saudi Arabia’s Industrialization & Energy Services Co (TAQA) are planning to open offices in Iraq.
(Sources: Iraqi Oil Ministry, Reuters)
A top Iranian energy official unveiled plans for a rise in natural gas exports to neighboring Iraq next year.
In an interview with Tasnim on Saturday, Managing Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi said the country’s exports of natural gas to Iraq will increase during the spring and summer of 2018.
Iran’s gas exports to Iraq, which now stand at 14 million cubic meters a day, are planned to reach the maximum capacity within three years, he added.
On June 22, at the beginning of summer, Iran started to export natural gas to Iraq after years of negotiations and settlement of financial problems.
Iran’s daily gas exports to Iraq are to reach 35 million cubic meters at the final stage.
Tehran and Baghdad signed a deal on the exports of natural gas from the giant South Pars Gas Field in 2013.
Under the deal, the Iranian gas is delivered to Sadr, Baghdad and al-Mansouryah power plants in Iraq through a 270-kilometer pipeline.
(Source: Tasnim, under Creative Commons licence)
Russia’s Gazprom Neft has launched the commercial operation of a 1.6 billion cubic metres capacity gas processing plant at its Badra field, Iraq.
Alexander Novak, Minister of Energy of the Russian Federation, was present at the opening ceremony for the new facility, together with the Minister of Oil of the Republic of Iraq, Jabbar al-Luaibi, and Gazprom Neft CEO Alexander Dyukov.
Dry feed gas, processed at the Badra field, is transported via a 100-kilometre pipeline to the Az-Zubaidiya power station, supplying electric power not just to provinces throughout Iraq, but also to the capital city of Bagdad.
In addition to this, gas will be used to meet the Badra project’s own needs as fuel for the gas-turbine power plant. Five gas turbines are able to produce a total 123.5 MW of electric power, supplying oil and gas processing facilities, drilling rigs and oil-producing wells. A 10-MW overhead power line will soon begin feeding into the Gazprom Neft Badra accommodation complex, as well as into the town of Badra and neighbouring population centres.
Natural gas liquids (NGLs) produced at the Badra project’s gas processing plant will be used to produce LPG to be supplied to the Iraqi state-owned Gas Filling Company. The plant also includes facilities for sulphur production and granulation.
Alexander Dyukov, Gazprom Neft CEO, made the following comment at the official opening ceremony of the gas plant:
“Gazprom Neft is continuing its development of the Badra field, in strict adherence to the field development plan. Today sees the full-cycle gas plant — built by our company using the most cutting-edge technologies available on the world market — going into commercial production.
“This is a unique enterprise for the region, at which Gazprom Neft has, since starting work, been able to monetize all of the hydrocarbons produced here, ensuring associated-petroleum-gas (APG) utilisation of at least 95 percent.”
(Source: Gazprom Neft)