Oil news

[SocalDinar]

Irish company begin digging oil wells in the Kurdistan Region contains 850 million barrels

2013/09/03 17:24 09/03/2013 17:24
Number of readings: 220

 

Range Press / Erbil

 Irish company specializing revealed to the oil and gas industry, on Tuesday, conducted the excavation work in the Kurdistan region, expected to contain about 850 million barrels of oil equivalent, and that the success rate which is estimated at 24 percent.

Petroceltic، Irish Independent، Shakrok-1". The company said Petroceltic, with interests and oil projects across Africa, Asia and Eastern Europe, today, in a statement quoted by The Independent newspaper Irish Irish Independent, and seen by (range Press), she "began the first steps of drilling a new oil in the Kurdistan region is Hacrok Shakrok- 1 ".

 The company added that, according to the newspaper, that "the well is the first تحفره in a patch field Hacrok oil, which is (240 miles) north of Baghdad," expected to "take the process of drilling the well to reach the desired depth of three thousand meters, is five months at least . "

And reported the company, according to the Independent newspaper Irish, that "the expectations indicate the containment area that is digging in, the equivalent of about 850 million barrels of oil equivalent," pointing out that "the success rate in this well is estimated at 24 percent."

 The newspaper attributed the move Irish company in the region, which began two years ago to the "growing interest of oil companies and gas companies in Iraq with signs of improvement in the security situation," he said.

. The head of the Kurdistan Regional Government Naچervan Barzani, announced during the opening of the Second Conference of the oil and gas, in Erbil, in the (third from December 2012 the past), that the reserve which is owned by the region's oil amounts to about 45 billion barrels of crude oil and more than three trillion cubic meters of natural gas.

. As announced by the Ministry of Natural Resources in the Kurdistan Regional Government, early June 2012, seeking to increase its crude oil production to one million barrels per day by 2015, stressing that there are plans to double production to two million barrels by 2019.

 It is noteworthy that many of the major oil companies and gas companies, including Exxon Mobil, Shell, Chevron, Total and Gazprom Russian, but not limited to (there are more than 40 companies from 17 countries working in the oil sector of Kurdistan), has entered into contracts for the exploration and production of oil and gas with the Regional Government Kurdistan, which has raised objection to the federal government.

http://translate.googleusercontent.com/translate_c?depth=1&ei=u9RmUfGyNYa7igLa-4G4Dw&hl=en&prev=/search%3Fq%3Dnahrain.com%26hl%3Den%26biw%3D1280%26bih%3D891&rurl=translate.google.com&sl=ar&u=http://www.almadapress.com/ar/NewsDetails.aspx%3FNewsID%3D17548&usg=ALkJrhhZx_1V7L-CO9Uo9WK_y_ysyEshzg

 

Maliki discuss with the Italian oil company Eni to increase production in the Zubair field

 

BAGHDAD / News: Search by Iraqi Prime Minister Nuri al-Maliki, Tuesday, contractual requirements and processes necessary to raise to increase the Zubair field with the Italian oil company Eni.

. The Web site of Italy's Eni that "al-Maliki on the sidelines of a meeting with chief executive of Italian oil company Eni Paolo Scaroni discussed the contractual requirements and processes required to reach the new production from the Zubair field, which will reach 850 thousand barrels per day in 2016, as agreed under the service contract."

 The Prime Minister expressed during the meeting about "satisfaction to the work of the company and its activities in the country."

 The ENI is the main operator of the Zubair oil field, which is considered to be one of the biggest fields in the country where a current production of 320 thousand barrels per day in collaboration with companies Occidental Petroleum and Korea Gas Corporation and Missan Oil Company.

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Referral drill 39 wells in Maysan fields on two Chinas Weatherford U.S.
 

 

 BAGHDAD / obelisk: The Iraqi government announced Tuesday, referring tender drill 39 wells in Maysan fields in southern Iraq on companies, "Chinese كوسل, Bohai Chinese, U.S. Weatherford."The General Secretariat of the Council of Ministers in a statement obtained by "obelisk", a copy of it, that "the Council of Ministers today held its 38th regular in Baghdad, headed by Prime Minister Nuri al-Maliki and decided to approve the Committee on Energy on the allocation of the implementation of the tender drilling 39 wells in Maysan fields ( Maysan Oil Company and Iraq cnooc Company). "

The statement added that "the tender will be the total amount of $ 347,866,727,66 on the basis of the best technical bids and lower prices to be provided by the three foreign."According to the statement, that the companies that will enter the tender included both "Chinese كوسل company in the amount of $ 73824353, and China Bohai Corporation of $ 96.66624 million dollars, and the U.S. firm Weatherford amount of 82,395,512,9 and $ $ $ 94,980,621,76. "

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Iraq awards $348 mln of drilling deals for Maysan oilfields

 

 

BAGHDAD, Sept 3 | Tue Sep 3, 2013 4:23pm EDT

BAGHDAD, Sept 3 (Reuters) - Iraq has awarded $347.8 million worth of drilling contracts for the Maysan oilfields in the south of the country, a government statement said on Tuesday.

Iraq awarded the contracts to three international oil service companies to drill 39 production wells in the 2.5-billion-barrel Maysan complex being developed by China's CNOOC and state-run Turkish Petroleum Corporation (TPAO).

U.S. oilfield services company Weatherford was awarded two drilling contracts worth $94.98 million and $82.39 million respectively. China's Bohai Drilling Engineering Company won a $96.66 million contract, the statement said.

COSL, a specialised oil services unit of CNOOC, was awarded a $73.82 million drilling deal. It was not clear from the statement how many wells each company would drill.

Iraq signed a deal in 2010 with China National Offshore Oil Corp (CNOOC) and TPAO to develop Maysan, comprising several small oilfields, aiming to reach a production target of 450,000 barrels per day by 2016.

In desperate need of cash to rebuild its battered economy after years of war and sanctions, Iraq has struck a series of development contracts with global oil majors that could signal a bonanza for international oil service companies.

In the same statement, Iraq said it had decided to extend an oil export agreement to supply Jordan with crude for one year, without giving more details.

Jordan's Information Minister Mohammed al-Momani told the state-run Petra news agency on Tuesday that Iraq's cabinet had approved an offer to supply $25 million worth of crude to help meet its energy needs.

Jordan, which imports almost all of its energy and commodity needs, has suffered economically from Arab Spring uprisings in the region, which have hit tourism receipts, remittances from Jordanian workers abroad and investment inflows.

http://www.reuters.com/article/2013/09/03/iraq-energy-idUSL6N0GZ3X620130903?rpc=401

 

Iraq begins exporting crude from Gharaf

 Iraqi oil minister Abdul Kareem Luaibi has announced that export of production from the Gharaf oilfield has started with a capacity of 35,000 bpd, Aswat al-Iraq has reported. In 2010, Iraq awarded Japan Petroleum Exploration Co, (JAPEX) and Malaysia's state-run oil firm, Petronas to develop an oil field in the southern part of the country. The oil field will have an estimated reserve of around 7.5bn barrels, said Luaibi.

 

http://www.ameinfo.com/iraq-begins-exporting-crude-gharaf-353178

 

[sandfly]

THANKS MORE OIL SO RV

[imgesing]

Incredible weath is flowing in... Who's getting it and where is it going? Simple question, right?

Well of course they need to build roads, add security, add electricity and other simple utilities...

Yet, how on this earth can they do this with the dinar so grossly undervalued? It amazes me.

Also, they are building contracts for this oil... If it isn't at some cut rate deal why is everyone so pressed to get in there? Something stinks and someone's hands are definitely lined.

This must change for the progress they are destined to capitalize on. This just is a part of logic to me. There must be some logic in what they are doing...

Crazy investment...